BBC Monitoring Asia Pacific

Text of report in English by Japan's largest news agency Kyodo Tokyo, Dec. 22 Kyodo - Japan and Colombia have reached a basic agreement on a bilateral treaty aimed at creating favourable and transparent conditions for greater investment, the Japanese Ministry of Economy, Trade and Industry said Wednesday.

If signed, the bilateral investment treaty would be the 16th such accord that Japan has inked with other economies, including Peru, South Korea and Hong Kong.

Tokyo hopes that the envisioned treaty would encourage Japanese companies to invest in Colombia, which has the potential to become an important Latin American natural resource exporter, the ministry said in a statement.

Japan and Colombia started negotiations on reaching the accord in April 2009, according to the ministry.

Bilateral investment treaties are aimed at increasing investor protection and creating an environment to encourage the liberalization of investment.

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