South American nation Colombia is looking forward to talks with India on trade related tariff to promote bilateral trade.
"Market access is a challenge and there is no free trade agreement with India as of now. So we are looking at how we can reduce tariff in a few sectors," Colombian Ambassador to India, Monica L Mutis, said here today while addressing an interactive session with the Bharat Chamber of Commerce.
Speaking to reporters, trade counsellor A F Castellanos said it would be a joint dialogue in which both countries would look forward to reduce import tariff in few sectors.
"Currently, import duty for products by India is more than 100 per cent and we may look at products like coffee, apparel and flower," he said without disclosing the level of tariff the country was aiming.
Current bilateral trade between India-Colombia stands at USD 4 billion. India imports goods and services worth USD 3 billion and of which 95 per cent is oil and coal, Castellanos said.
If the joint dialogue on tariff helps in reducing duties by both countries, bilateral trade will get a boost, honorary consul of Colombia in Kolkata, P R Agarwala said.
