1. The 10th Japan-Colombia Joint Economic Committee Meeting took place in Bogotá on June 4, 2019. The Japanese delegation, led by Ken Kobayashi, Chairman of the Japan-Colombia Economic Committee of Keidanren, consisted of about 40 business leaders. The Colombian delegation, led by Roberto Velez Vallejo, CEO of the Colombian Coffee Growers Federation (FNC) and Chairman of the Colombia-Japan Economic Committee in Colombia, consisted of about 160 business leaders.

2. The Japanese and Colombian business leaders welcomed President Duque's efforts to improve safety and the business environment, and expressed their desire for further development of the Japan-Colombia economic relationship through new initiatives. The parties discussed ways to enhance economic cooperation including a Japan-Colombia Economic Partnership Agreement (EPA), investment opportunities, the business environment, and new economic initiatives such as the Orange Economy and creative industries.

3. The parties called for the early conclusion of a high-quality Japan-Colombia EPA reflecting the voice of business to enhance the economic cooperation between the two countries. As the business value chain increasingly expands to multi-border, integrating Japan and Colombia to the wider Asia-Pacific market is more beneficial than limiting them to the bilateral framework. In this sense, Japanese business community welcomes Colombia to join the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP).

4. The parties shared the view that high-quality Japanese infrastructure and vigorous financial support including yen loans play key roles in improving the business environment in Colombia.

5. The parties declared their commitment to ongoing efforts to achieve deeper bilateral economic ties through business dialogue.