Arab Today, arab today s korea colombia agree trade pact
Last Updated : GMT 02:18:28
Arab Today, arab today
Arab Today, arab today

S Korea, Colombia agree trade pact

Arab Today, arab today

Arab Today, arab today S Korea, Colombia agree trade pact

Seoul - AFP

South Korea said on Tuesday it had agreed a free trade pact with Colombia after 30 months of talks, in what was hailed as a win-win deal for both sides. Visiting South Korean Trade Minister Park Tae-Ho and his Colombian counterpart Sergio Diaz-Granados signed a joint statement declaring the end of negotiations in Bogota Monday. South Korean President Lee Myung-Bak and Colombian President Juan Manuel Santos attended the ceremony, at which the two sides in a joint statement described the pact as \"mutually beneficial to both sides\". Lee, quoted by Yonhap news agency, said his country would treat Colombia as a gateway to South America while Colombia would use South Korea as a gateway to Asia. An initial agreement is expected to be signed in the second half of this year, removing tariffs on most traded products within a decade after the deal goes into effect. Colombia accounts for only a small part of Korea\'s trade. Last year, exports made up mainly of cars and car parts totalled $1.61 billion while imports were worth $381 million. But Lee told Colombia\'s El Tiempo newspaper Sunday he expects South Korea\'s trade with Colombia to jump fivefold over the next five years once the deal is in force. South Korea has signed an extensive range of free trade deals to support its export-dominated economy. It has pacts with the United States, the European Union, India, the Association of Southeast Asian Nations, Singapore, Peru, Chile and the European Free Trade Association (Liechtenstein, Iceland, Norway, and Switzerland).

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today s korea colombia agree trade pact Arab Today, arab today s korea colombia agree trade pact

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today s korea colombia agree trade pact Arab Today, arab today s korea colombia agree trade pact

 



Arab Today, arab today Designer Rania Adel reveals her new collection

GMT 17:59 2017 Monday ,12 June

Designer Rania Adel reveals her new collection
Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today Mai Al-Jeddawi presents décor ideas for Ramadan
View News in Arabic - Business: اقتصاد دولي
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday