Japan and Colombia extended their fifth round of talks on an investment protection agreement in Tokyo Friday. The two nations hope to close the deal by the end of next week.
The teams of negotiators from both nations decided to extend the round of negotiations, despite hope that talks would have been concluded by the end of this week
Colombian Ambassador to Japan Patricia Cardenas said that given the interest by both parties, they hope to reach an agreement during this round of talks.
Foreign Minister Jaime Bermudez said during a recent visit to Japan that the agreement will boost Japanese investment in sectors such as oil discovery, infrastructure and construction.
Negotiations for the investment agreement began in Tokyo in April 2009.
Closing this agreement is a precondition for signing the signing of a tarriffs agreement and potentially, at some point, a free trade agreement between the two countries.