Colombia and South Korea signed five economic agreements during Colombian President Juan Manuel Santos’ three-day visit to the Asian country.
The agreements dealt with issues of mining, the environment, housing, sustainable development, and coordinating economic policies.
“All of this is what generates employment, production, economic activity, investment. That helps the conditions that we have considered necessary to achieve the goals. Increased economic growth, increased investment, which translates into more jobs and more prosperity,” said Santos.
The Colombian president explained that the agreements with South Korea were part of Colombia’s comprehensive development plan to leverage foreign investment.
Santos pointed to two agreements valued at $250 million between South Korean and Colombian oil and mining companies as testament to their improved economic relations.
President Santos said he visited South Korea 18 years ago “to strengthen trade relations, to look for trade agreements and to improve trade relations between the two countries.” He admitted that it was not until now that these relations materialized.