Content publication date
exports
Colombia's Free Trade Agreements have enabled the country to make significant progress in its economy, as they have expanded the market of goods and services for Colombians. They also create close links with partner countries, allowing the strengthening of bilateral and regional relations.
On the other hand, this type of trade agreement allows exporters to project their businesses, compare their products with world supply, and generate more jobs. Here we explain about this topic, what is their influence in the country, and what are the agreements currently in force.
The Free Trade Agreement or FTA is a regional or bilateral trade agreement, which consists of facilitating trade through the establishment of more favorable conditions for the exchange of goods and services. Its main characteristic is the elimination or reduction in tariff rates.
The purpose of these zones is to expand the market and generate benefits among the participating countries. However, this does not mean that there should be economic, social, and political integration among them.
Colombia is a country that has chosen to open up to new markets and seek out great opportunities worldwide. This, due to the benefits that free trade can generate and its impact on the country's economic growth.
For this reason, Colombia's Free Trade Agreements have been developed, which aim to increase trade and investment flows, boost bilateral economic cooperation, support the removal of tariff barriers, and foster diplomatic relations.
Currently, Colombia has 17 agreements, which are related to different countries and groups of countries. These are the Trade Agreements in force in the country:
Signed: June 13, 1994
Effective: January 1, 1995
Signed: August 9, 2007
Effective: November 12, 2009
Signed: May 26, 1969
Effective: October 16, 1969
Signed: July 24, 1994
Effective: January 1, 1995
Signed: November 27, 2006
Effective: May 8, 2009
Signed: November 25, 2008
Effective: July 1, 2011
Signed: November 21, 2008
Effective: August 15, 2011
Signed: November 22, 2006
Effective: May 15, 2012
Signed: July 21, 2017
Effective: December 20, 2017
Signed: April 28, 2011
Effective: October 19, 2012
Signed: September 15, 2000
Effective: July 10, 2001
Signed: June 26, 2012
Effective: November 5, 2014
Signed: June 6, 2012
Effective: May 1, 2016
Signed: May 22, 2013
Effective: July 29, 2016
Signed: February 21, 2013
Effective: June 30, 2016
Signed: March 2, 1984
Effective: September 2, 1985
Signed: June 1, 2017
Effective: August 11, 2020
This trade agreement that Colombia has with the above-mentioned countries allows exporters to take advantage of favorable trade conditions so that their products reach more international markets. We invite you to learn about the benefits of the current FTAs and keep abreast of those in process with countries like Japan and the United Kingdom.