The Canada-Colombia Free Trade Agreement
Creating valuable opportunities for Canadian businesses like yours
Colombia is an established market for Canadian businesses, with a rapidly growing economy that posted GDP growth of 5.9 percent in 2011. Canada’s free trade agreement with Colombia gives Canadian companies a competitive advantage in that country. It eliminates or reduces tariffs on most Canadian agricultural and agri-food, oil and gas, and mining products and promotes a more stable and predictable climate for Canadian investment.
Learn more about the free trade agreement with Colombia and discover your next market today.
Canada-Colombia Trade Relations
Colombia is Canada’s third-largest merchandise export destination in Latin America and the Caribbean and the fifth-largest destination for Canadian direct investment in the region. Colombians are interested in doing business with Canadian firms, reflecting an increasing awareness of Canada as a source of technology and quality products.
The free trade agreement opens up many opportunities for Canadian businesses in Colombia across a variety of sectors, as outlined below.
Opportunities for Canadian Companies in Agriculture and Agri-food
The agreement eliminates or reduces tariffs (which previously ranged up to 108 percent) on nearly all Canadian agricultural and agri-food exports. Particularly valuable opportunities exist for Canadian exporters of:
- wheat and barley
- canary seed
- canola oil
- animal feed
- beef and pork
- processed and high-value food products
Opportunities for Canadian Companies in Mining and Oil and Gas
The agreement eliminates tariffs on Canadian exports of most equipment and services used in the mining and oil and gas sectors, including that used in exploration. Demand in Colombia is strong for engineering, geophysical and mapping services. The agreement also facilitates access for temporary foreign workers.
Opportunities for Canadian Companies in Information and Communications Technology (ICT)
The agreement eliminates nearly all tariffs (which previously ranged up to 20 percent) on Canadian ITC products and services. Particularly valuable opportunities exist for Canadian exporters of computer hardware and software, networking solutions, telecommunications equipment and e-services.
The agreement makes Colombia very attractive for Canadian investors. Under it, Canadian investments in Colombia are protected by reciprocal, legally binding rights and obligations, as well as international arbitration to resolve disputes. The agreement also improves access to services and government procurement markets. Especially valuable opportunities exist for Canadian investors in the following sectors:
- agriculture and agri-food
- forestry, pulp and paper
- shoe manufacturing
- mining (nickel, coal, gold, copper), oil and gas
- environmental services (waste management, water treatment)
- infrastructure (roads, sea ports, airports, urban mass transit)
“We really needed to level the playing field,” says Jacques Pomerleau, President of Canada Pork International, the industry association that represents Canada’s pork producers. “Now, we have transparent and stable access to a very important market, and that is great news for Canadian companies.” Read the full success story.
For more information about new business opportunities or how the free trade agreement can help your company in Colombia, check out market facts and reports for Colombia on the Trade Commissioner Service website or contact a trade commissioner.
- Background on the Canada-Colombia Free Trade Agreement
- Canada-Colombia Free Trade Agreement—Full text
- Canada-Colombia relations
If you have questions or comments about this free trade agreement, please contact Foreign Affairs, Trade and Development Canada at:
Trade Policy and Negotiations Division I (TPE)
Foreign Affairs, Trade and Development Canada
Lester B. Pearson Building
125 Sussex Drive, Ottawa ON K1A 0G2
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