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EFTA, Colombia Promote Free Trade Agreement

by Ulrika Lomas, Tax-News.com, Brussels

06 December 2017


The European Free Trade Association (EFTA) member states (Switzerland, Liechtenstein, Iceland, and Norway) and Colombia recently held a seminar to promote their bilateral free trade agreement.

According to EFTA, speakers and experts at the seminar, held in Bogata, made presentations on the technical and practical issues concerning accessing the EFTA markets, with a focus on the opportunities for Colombian exporters under the free trade deal.

Topics covered included customs issues such as rules of origin, proofs of origin and the verification procedure, and issues on sanitary and phytosanitary requirements and technical standards.

The FTA entered into force between July 2011 and September 2014 for the five states. The agreement has broad coverage, including chapters on trade in goods and services, protection of intellectual property rights, investment, and government procurement.

EFTA-Colombia merchandise trade was worth USD1.1bn in 2016, according to EFTA. Pharmaceutical products, organic chemicals, and precision instruments were among EFTA's leading exports to Colombia. The main imports from Colombia were precious stones and metals, as well as coffee, tea, mate (used to make a local caffeine-rich infused drink), and spice.

TAGS: investment | free trade agreement (FTA) | Iceland | intellectual property | Colombia | Liechtenstein | Norway | Switzerland | standards | trade | services | Europe

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