Colombia has agreed to make a trade pact with South Korea covering services, investment, and other sectors, Seoul’s Trade Ministry announced.
The first round of Colombia’s trade talks with Korea has ended with plans to exchange draft texts of the agreement, and an arrangement to meet in Bogota in March for the second round of talks, Yonhap News reports.
Trade between the two countries was worth US$1.23 billion in 2008. Colombia imports mainly cars and electronic goods from the Asian nation, and exports coffee, coal and nickel in return.
Colombia is also waiting for free trade agreements with the U.S., Canada and the European Union.