Colombia's foreign affairs minister is in the final stages of negotiations with European Union officials for a  free trade agreement (FTA), website Portafolio.co reported.

Minister María Ángela Holguín has discussed the deal with several officials including E.U. Trade Minister Karel De Gucht, while she is expected to meet with European Commission President José Manuel Durao Barroso on Friday, according to the Colombian Embassy in Brussels.

E.U. trade spokesperson John Clancy said the meeting between Holguín and De Gucht was 'very positive' with both sides aiming for the deal to come into place 'as soon as possible', the story reported.

Current trade between Colombia and the European Union is worth US$10 billion annually, with the European Commission estimating a free trade deal could come into place as early as the second quarter next year.

Photo: www.cancilleria.gov.co

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