Colombian President Juan Manuel Santos said that the free trade agreement the Andean nation finalized with the European Union Tuesday is beneficial to Colombia, according to an official statement from the president’s office.
“This agreement means a preferable commercial relation with the world’s prime importer of goods and services, it also remains a market with a great buying capacity,” said Santos at the the15th annual commemoration of Bogota’s tax-free zone.
The head of state also lauded the FTA with South Korea was formalized on Tuesday as well. “It’s about a greatly important negotiation to make us closer to Asia, taking advantage of Korea being a big importer of agricultural products and a provider of input and cheap prime materials, for the benefit of the national industry,” he said.
went into effect May 15. Regarding the FTA with the United States, Santos said that the “treaty gives us access to the principal market of the world, which is also our biggest investor and commercial partner.”