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  • KITA Held ‘Korea-Colombia Trade and Investment Facilitation Forum’
    2019-10-10 hit 596

    KITA Held ‘Korea-Colombia Trade and Investment Facilitation Forum’

     

    - Presentations on the evaluation of the 3 years of Korea-Columbia FTA and success stories of utilizing the pact one on one consultation meetings between the companies from the two countries took place -


     

    The Korea International Trade Association (Chairman: Kim Young-ju), the Colombian Ministry of Commerce, Industry and Tourism, and ProColombia jointly hosted ‘Korea-Colombia Trade and Investment Facilitation Forum’ at the Trade Tower in Samseong-dong on October 10th.


     

    This forum was to celebrate the 3rd anniversary of the effectuation of Korea-Colombia Free Trade Agreement (FTA). More than 130 people, including key figures from both countries; Chairman Kim Young-ju of Korea International Trade Association, Minister Jose Manuel Restrepo of the Colombian Ministry of Commerce, Industry and Tourism, Ambassador Juan Carlos Caiza Rosero of Colombia in Seoul, President Flavia Santoro Trujillo of ProColombia, and corporate personnel from Korea’s Lotte International and Celltrion Healthcare, and Columbia’s Colombina and Banasan participated in the event.


     

    During the forum, presentations on the evaluation of the 3 years of Korea-Colombia FTA, promising entry areas and success stories of business expansion utilizing the FTA, and one-on-one consultations between the companies from the two countries were carried out.


     

    Chairman Kim Young-ju of the Korea International Trade Association said in his opening speech, “The bilateral trade increased from 1.2 billion dollars in 2016 when the Korea-Colombia FTA took effect to 1.8 billion dollars last year, and added, Colombia is an important partner country in the field of innovative growth and creative industries and the association will endeavor to further develop strategic cooperative partnerships between the two countries.


     

    President Flavia Santoro of ProColombia said, Exchanges between the two countries have increased significantly since the FTA come into effect, with Colombia's export volume to Korea exceeded 350 million dollars in the first half of this year, and added, I hope that today's forum will boost further business exchanges between the two countries.


     

    The Korea International Trade Association also signed a memorandum of understanding (MOU) with ProColombia to strengthen business cooperation, including trade information exchanges, dispatch of trade investment delegations and business forums and conferences.


     

    Cho Hak-hee, the head of International Affairs Group at the Korea International Trade Association, said, Colombia is the third-largest domestic-demand market in Central and South America with a population of 50 million and a strategic base to make inroads into Central and South America. He also mentioned, I hope that this forum will allow Korean companies to take advantage of the Korea-Colombia FTA to enter into Colombia more actively.



     

     


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