Colombia and its partners in the Asia Pacific

In July 2016, the free trade agreement between Colombia and South Korea entered into force, granting Colombian exporters preferential access conditions to the Korean market and vice versa in terms of goods and services. Additionally, it includes chapters related to e-commerce, investments, temporary entry for business persons, intellectual property, and trade and sustainable development.

As shown in the following graph, in 2023, Colombian exports to Korea reached $553.7 million, while imports totaled $857 million. The most exported category of products included mineral fuels, mineral oils, products of their distillation, bituminous substances, and mineral waxes. The most imported category consisted of vehicles other than railway or tramway rolling stock, and parts and accessories thereof.

Colombia not only has agreements with South Korea within the Asia-Pacific region, but this month also marks a new anniversary of the entry into force of an investment agreement signed with India and China.

Refer to the graphic and table below for more details.