The main objective of the Colombia-Canada Free Trade Agreement is to set up a free-trade area.
The Free Trade Agreement between Canada
and Colombia, the Labour Cooperation Agreement and the Agreement on Environment enters into force on 2011.
The Free Trade Agreement between Canada and Colombia will result in lower
trade barriers and expanded opportunities for the exporters and investors in a broad range of sectors
Lowering the Technical Barriers to Bilateral Trade (TBT) through eliminating tariffs and addressing non-tariff barriers will allow
companies in Canada and Colombia to increase their export potential and expand into the non-traditional markets
A reduction in the Colombian tariffs would improve the opportunities for the international trade in products (industrial and agricultural producers)
International trade between Colombia and Canada.
Foreign trade in goods between Canada and Colombia: 1.4 billion dollars
Exported products from Canada to Colombia: 644 million dollars
Top exports products are cereals (wheat, barley), machinery, vegetables (pulses - lentils, peas, chickpeas), paper and paperboard, and vehicles
Canadian Product imports from Colombia: 717 million dollars
Top imports are mineral fuels and oils, coffee, fruits, and sugar
Total Canadian Foreign direct investment (FDI) in Colombia was 824 million dollars. This foreign investment is mainly in petrol and gas and mining sectors
Foreign trade in services of Canada accounted for 13% of the total exports and 17% of imports
(c) EENI Global Business School (1995-2024)
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