(MENAFN- Qatar News Agency) South Korean President Lee Myung-bak has finalized a free trade agreement with Colombia during his official visit to Bogota.
"An FTA between South Korea and Colombia will be a win-win opportunity for both countries," Lee told the Korean Central News Agency. "If an FTA is struck between the two countries, trade volume between the two countries is expected to increase five-fold over the next five years, and mutual investment in each other is also expected to increase sharply."
Colombia's economy is expected to grow at a much faster pace than before if the trade pact goes into effect because Colombian firms could take advantage of the agreement as a foothold for their expansion in Asia, Lee added.
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