Simultaneously announced by the Ministry of Foreign Affairs

The Cabinet today decided that the Government of Japan should sign the Agreement between Japan and the Republic of Colombia for the Liberalization, Promotion and Protection of Investment (the Japan-Colombia Investment Agreement). Based on this decision, Mr. Koichiro Gemba, Minister for Foreign Affairs, and Mr. Sergio Diaz-Granados, Minister of Trade, Industry and Tourism of the Republic of Colombia, will sign this Agreement on Monday, September 12 in Tokyo.

(1) Protection of investment and improvement of the investment environment

The Agreement provides for rules concerning the protection of investment and the improvement of the investment environment. It is expected to increase the legal stability of the investment environment in Colombia and consequently facilitate Japanese companies’ investment activities there.

(2) Stronger relations with Latin American regions

With the third largest population in Latin America and steady economic policies in place, Colombia is one of the major countries in Latin America, which has recently attracted great attention for abundant natural resources and rapid economic growth. Since the nation is expected to serve as a base for business with its neighboring countries, the Agreement, once signed, will help Japan strengthen relations with Latin American countries.

<Reference 1> Role of the Japan-Colombia Investment Agreement

This will be Japan’s 17th investment agreement to be signed (or 27th if investment chapters of bilateral economic partnership agreements [EPAs] are included). Colombia will be the second Latin American country for Japan to sign an investment agreement with after Peru (or fourth if investment chapters of bilateral EPAs with Mexico and Chile are included).

<Reference 2> Past negotiations

The commencement of negotiations was decided at the foreign ministerial meeting held in Colombia in November 2008. Both sides, the Ministry of Economy, Trade and Industry (METI) and the Ministry of Foreign Affairs (MOFA) representing Japan and the Ministry of Trade, Industry and Tourism representing Colombia, held seven negotiation sessions before reaching a substantial agreement in December last year.

1st - April 2009 in Tokyo
2nd - June 2009 in Colombia
3rd - September 2009 in Tokyo 4th - November 2009 in Colombia
5th - February 2010 in Tokyo
6th - July 2010 in Colombia
7th - December 13-17, 2010, in the U.S.

<Reference 3> The text of the Agreement will be posted on the METI and MOFA websites after the signing.

• METI website: Economic Partnership Agreement (EPA)/Free Trade Agreement (FTA)
  http://www.meti.go.jp/policy/trade_policy/epa/index.html
• METI website: Economic Partnership Agreement (EPA)/Free Trade Agreement (FTA) [Investment Agreement]
  http://www.meti.go.jp/policy/trade_policy/epa/investment.html

• Economic Overview of the Republic of Colombia (PDF:56KB)

<Country overview>
Latin America and Caribbean Office, Trade Policy Bureau

<Agreement overview>
Economic Partnership Division, Trade Policy Bureau

September 9, 2011