Bilateral Colombia UK Trade Bill Passes Out Of Colombia’s Senate Committee

A post-Brexit trade deal between Colombia and the United Kingdom was approved by Colombia’s congress in its first debate. The bill seeks to maintain trade integration, market access and commercial relationship between the two Atlantic countries.

After approval in the first debate in the Second Committee of the Senate, the initiative goes to discussion in the plenary session of that body.

The Minister of Commerce, Industry and Tourism, José Manuel Restrepo Abondano, explained that nearly $470 million USD worth of goods were exported to the UK last year, a market that represents about 10% of what Colombia sells to the European Union.

The main export sector to the United Kingdom is agriculture, including products such as bananas, flowers, coffee and fruits such as avocados.

“This agreement foresees that the current tariff preferences for both agricultural and industrial products will continue to be applied as agreed under the FTA with the European bloc,” said the Minister.

Open source image: Groubani de Wikipedia en inglés.