Colombia and the United Kingdom formalize their FTA: these are the agreements

Colombia and the United Kingdom formalize their FTA: these are the agreements

In the framework of President Iván Duque’s working visit to the United Kingdom, Turkey and Switzerland, the Colombian president formalized together with the British prime minister, Boris Johnson, the Free Trade Agreement (FTA) with the United Kingdom.

(See: Mining companies would transfer more than 8 billion pesos to the new government).

After the departure of the United Kingdom from the European Union (EU), as a result of ‘Brexit’, Colombia became one of the first states in the region to sign an FTA with the British country.

According to the Casa de Nariño, the country completed all its internal constitutional and legal procedures for the entry into force of this FTA, a mechanism that was reached after both nations decided maintain tariff preferences after ‘brexit’, by means of diplomatic notes for a period of every 6 months.

(See: First quarter GDP brings optimism, but risks remain).

The bilateral dialogue for the entry into force of the FTA focused on chapters, such as data protection, infrastructure, energy, agribusiness, life sciences, financial services, creative industries, among others.

Johnson, for his part, recognized Colombia’s leadership in the fight against climate change, as well as the protection of biodiversity and species.

(See: Will Colombia regain investment grade soon? This says Fitch).

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