13/01/2015 (Bernama) - Malaysia is still monitoring the peace process between Colombia and the Revolutionary Armed Forces of Colombia (Farc) to enhance bilateral ties, especially in economic and trade areas.

Institute of Strategic and International Studies (Isis) chairman Tan Sri Rastam Mohd Isa said there would be better prospects of trade between the two countries if the peace pact was successful.

The Colombian Government and Farc guerrillas are involved in an armed conflict since 1964.

Rastam said as a dominant country in Latin America, Colombia offered a wide range of prospects to be explored.

"Should the peace process between the government and Farc become a reality, there will be an improvement in relations between Malaysia and Colombia" he noted.

He was speaking to reporters after Colombian Foreign Minister Maria Angela Holguin Cuellar delivered a speech at a forum entitled, 'Colombia: Land of Opportunities' here today.

She concluded her three-day visit to Malaysia today.

Rastam said among the fields to be explored by Malaysian investors in Colombia were oil palm and tourism.

"If it is not for the conflict in the country, Colombia would be a popular tourism destination for visitors from Europe and the United States.

"Perhaps, the sector could be explored by Malaysian companies interested in investing in the country," he said.

Earlier in her address, Holguin Cuellar said the two sides in the peace process were expected to come to an agreement by October this year.

"Malaysia and Colombia have a lot in common...this is something that we believe we can take advantage of.

"Oil palm cultivation in Colombia started 15 years with the help of Malaysians...but due to the problem brought about by the conflict and the lack of security, they just ceased going to Colombia," she noted.

She hoped her visit would boost Malaysia's confidence in the many changes, including security, taking place in her country.