Colombia and Canada yesterday signed a trade agreement


Trade relations between Canada and Colombia are tightened.

Yesterday, Minister of Industry and Tourism of Colombia, Luis Guillermo Plata, announced that the two countries sealed a Free Trade Agreement (NAFTA) and also several agreements on labor and environmental cooperation.

The negotiation process was completed after five rounds of work. The first took place on July 16, 2007, in Lima, Peru.
Although not yet know details of the treaty, the news showed the interest of Canada to take larger market share of americas America.

Last week, Peru signed a similar agreement with that country and Ecuador also was expected to follow the same paths, but this was not given.

With the treaty, some 97% of Colombians paid for industrial goods immediately to the Canadian market without tariffs.

The next step is to send the consensus document of the treaty to their respective legislative bodies of each country so that they give their final approval in the coming days.

The AD was well received by officials of Colombia, it means his crowning achievement after the free-trade treaty with the United States stagnated.

In November 2006 it was hoped that the U.S. Congress ratify this agreement, but a Democratic majority opposed. They had objected to control standards and environmental rights of workers in Colombia.