Tlc Israel

IsrColombia – Israel Free Trade Agreement
Apparently, the Bedrock / Acciones de la Frontera cooperation for trade and investment among businesses from Israel and Colombia has evolved to a biggerscale. The governments of both home countries have started negotiations in furtherance of signing a Free Trade Agreement. Although Israel is 51 times smaller in size, it has a superior level of foreigntrade and its economic structure is that of a highly developed country. This latter quality is due to the condition where its industry accounts for 32% of its economic structure, while its servicesaccount for 66%.
International cooperation between Colombia and Israel began in the 60’s with the assistance to construct a highway connecting Bogotá with Girardot, a town relatively close to thecapital. Also during that period, Israel helped some telephone and satellite internet connection projects and on top they opened a program that offered scholarships to 100 Colombian students. Nowadays, ahigher number of Colombians receive aid to study in Israel and returnees have played an important role in the development of some agricultural sectors such as the banana and flower sectors, as well asthe education and health sectors.
Interesting facts about the bilateral trade are that Colombia is the third most important country for Israel in terms of trade with Latin America. Likewise, 90% ofthe Colombian trade with the Middle-East is done with Israel.
Returning to the free trade agreement, the first round of negotiations between Israel and Colombia to sign the free trade agreement hasofficially culminated after 3 days of work from the technical teams of both countries. Their representatives met in Jerusalem at the Ministry of Industry, Trade and Labor from March 12th until the14th.
Tariffs were not the only topic debated during this period. The first round of negotiations also included the discussion of the following topics:
* Market access,
* Origin guidelines,...