Colombia-EFTA Free Trade Agreement

Description: European Free Trade Association (EFTA)-Colombia Free Trade Agreement (FTA)

The agreement between Colombia and the European Free Trade Association (EFTA) entered into force for the Republic of Colombia, Liechtenstein, and Switzerland in 2011.

The Colombia-European Free Trade Association (EFTA) Free Trade Agreement covers:

1. International trade in goods (agriculture and industrial goods)
2. Foreign Direct Investment (FDI)
3. Trade in services
4. Intellectual Property Rights (IPR)
5. Government Procurement
6. Competition
7. Cooperation

Bilateral agreements on agricultural products between the European Free Trade Association States and Colombia also form part of the instruments for establishing the free-trade area between the Republic of Colombia and the European Free Trade Association (Iceland, Liechtenstein, Norway, and Switzerland).

The objectives of the Colombia-EFTA Free Trade Agreement (FTA) are to:

1. Reach the Foreign Trade Liberalisation in products and services
2. Substantially increase the foreign direct investment (FDI) opportunities in the free-trade area
3. Achieve the liberalisation on a mutual basis of Government procurement markets
4. Promote the fair competition in their economies
5. Guarantee an adequate and efficient protection of the intellectual property rights
6. Contribute, by trade and foreign direct investment Barriers removal, to the world's trade development and growth; and
7. Guarantee the cooperation related to trade capacity building, to expand and improve the benefits of this agreement, especially for the small and medium-sized companies

The Free Trade Agreement between Colombia and the European Free Trade Association (EFTA) consists of 145 Articles and 20 Annexes covering:

1. Trade in products and services
2. Foreign direct investment (FDI)
3. Intellectual Property Rights
4. Government Procurement
5. Competition
6. Cooperation
7. Administration and Dispute Settlement

Foreign Trade between the EFTA States and Colombia.

1. International Trade between the European Free Trade Association and the Republic of Colombia was USD 525 million, and between the European Free Trade Association and Peru: 392 million dollars
2. The European Free Trade Association top imports from the Republic of Colombia were precious stones and metals, coffee, tea, spices, fruits, and nuts

Colombia and the EFTA States are members of the Western Civilisation (Latin American-European).

Colombian Free Trade Agreements: Andean Community (MERCOSUR, Chile, Mexico, Panama, European Union, India, China, Russia), Association of Caribbean States, ALADI, UNASUR, SELA, United States, Mexico, Northern Triangle, Chile, Canada, CARICOM...

EFTA Free Trade Agreements (FTA): Singapore, India, South Korea, Philippines, Canada, Chile, Mexico, Peru, Central America, Albania, Bosnia and Herzegovina, Georgia, Macedonia, Montenegro, Serbia, Turkey, Ukraine, Egypt, Morocco, Tunisia, Southern African Customs Union (SACU), Gulf Cooperation Council, Jordan, Lebanon...