Colombian President Juan Manuel Santos on Monday finalized a free trade deal with Israel during a meeting with Israeli Head of State Shimon Peres.

The conclusion of the free trade agreement with Israel comes after 15 months of negotiations with the Middle Eastern nation. The agreement is now subject to ratification by both Colombian and Israeli parliament.

“We have concluded FTA negotiations with Israel. This means more investment and more employment,” said president Santos via Twitter, reiterating the benefits the FTA would bring to Colombia.

The Colombian Head of State also signed an agreement to allow direct flights between the two countries and an agreement on innovation and entrepreneurship.

Santos’ visit to Israel is part of a larger tour of the United Kingdom and the Middle East designed to promote economic cooperation between Colombia and foreign nations.

Source: Colombia Reports