Colombia and South Korea have signed a preliminary draft of a trade deal that would eliminate trade tariffs within ten years the Colombian embassy in Seoul told newswire Efe Friday.
Trade commissions of the two countries signed the draft agreement that will now be sent to the Colombian and South Korean congresses for approval.
“We hope it will be in force as soon as possible,” an embassy source told Efe.
When approved, Colombia will become the third Latin American country to have a free trade agreement with Asia’s 4th largest economy after Japan, China and India.