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LatinNews Daily Report - 11 June 2013

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In Brief - Colombia

ECONOMY | FTA with Israel. On 10 June Colombian President Juan Manuel Santos announced the signing of a free trade deal with Israel after 15 months of negotiations. The agreement was signed during a ceremony at the official residency of Israel’s President Shimon Peres, during a visit by Santos to Jerusalem. As well as boosting the amount of bilateral trade which currently totals US$680m, the Colombian government is hoping to diversify exports by increasing cooperation in technology. Colombia’s exports to Israel are mainly coffee, carbon and flowers while Israel sells high-end manufactured products. The bilateral partnership will include technology for agriculture and information technology for defence.