On Monday the third meeting between Colombia and Japan to agree on a Free Trade Agreement (FTA) got underway in Tokyo. On the discussion table are reducing tariffs and rules of origin and procurement.
According to the Kyodo news agency the talks will continue until Friday. The ambassador in charge of Japan’s economic diplomacy, Jun Yokota, said he hopes to “move forward to reaching a comprehensive agreement”.
The last round of talks were held in Cali, between May 21 and 24 of this year, where progress in areas such as customs procedures, trade in goods and services, competition and intellectual property, was made.
From Colombia, Japan imports mainly coffee and flowers, while it exports to the country iron and steel, industrial machinery and vehicles.
In the last decade, the exchange of goods and services between the two countries has grown from US$723 million to US$1.9 billion last year.
Colombian exports to Japan nearly tripled between 2001 and 2012, from US$165 million in 2001 to US$453 million last year.
The two countries started free trade negotiations in September 2012.
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