Colombia and Japan Approve an Investment Agreement
“The signing of this agreement is good news because it will drive Japan’s investments in Colombia. They will open new companies here, new jobs will be created, and they will bring their technology; Colombians will have the opportunity to learn from Japan’s economic and production systems.
This agreement will foster investments and, most importantly, will boost employment in the country”, stated Santiago Rojas, Minister of Trade, Industry and Tourism.
Rojas explained that this agreement has nothing to do with customs tariffs or removing tax barriers, but it will provide benefits and legal certainty for Japanese investors seeking to work in Colombia. For this reason, new policies to attract foreign investments are a top priority in order to increase Colombian productivity.
The total global foreign direct investment from Japan in 2013 was estimated to be $111.40 billion USD.