The study presents the quantitative effects of a total tariff tax exemption between Colombia and Israel. Tariff reduction simulations are carried out using a partial equilibrium model based on the SMART methodology. Before the model, some indicators are presented to show an overview of the degree of complementarity, similarity and comparative advantages revealed. The results show that the commercial effect is very low for both countries and that there are minimum potential risks. However, several opportunities of new exports for specific sectors are identified.