EU Signs Trade Agreement with Colombia, Peru

By CnAgri2012-06-29 19:57:14 Print

EU Trade Commissioner Karel De Gucht signed the deal together with Danish Ambassador Jonas Bering Liisberg representing the Presidency of the Council of the EU, the Colombian Minister for Trade Sergio D韆z-Granados, and the Peruvian Minister for Foreign Trade Jos?Luis Silva Martinot.

Once fully implemented the Commission estimates that the trade deal will relieve EU exporters in duties annually; it will further open up markets on both sides as well as increase the stability and predictability of the trading environment.

Once fully implemented, the agreement will eliminate tariffs in all industrial and fisheries products, increase market access for agricultural products, improve access to public procurement, services and investment markets, further reduce technical barriers to trade, and establish common disciplines including on intellectual property rights, transparency and competition.

The EU will open its market to exporters from Peru and Colombia by committing to an immediate liberalisation in industrial and fisheries products as well as substantial tariff concessions in agriculture.

This is expected to have a direct impact on growth and jobs in these countries and contribute to the sustained move up the value chain of their economies.