Delegations from Colombia and Costa Rica will meet later today to begin negotiations on a free trade agreement, W Radio reported Friday.
Colombian President Juan Manuel Santos flew to the Costa Rican capital of San Jose Friday morning where he will meet with President Laura Chincilla.
The goal of the proposed treaty is to open markets and attract investment and tourism to both countries, said the Colombian Minister of Commerce, Trade and Tourism Sergio Diaz-Granados.
At the meeting Diaz-Granados and his Costa Rican counterpart Anabel Gonzalez will sign a document formalizing the start of negotiations.
In a meeting with the Board of Foreign Trade held Thursday, Diaz-Granadoz also announced that Colombia is close to finalizing free trade agreements with South Korea and the European Union, as well as a partial trade agreement with Venezuela.