Brussels, 01/03/2010 (Agence Europe) - On Monday 1 March, the European Commission announced that it had successfully concluded commercial negotiations with Peru and Colombia for the signature of an association and trade agreement between the EU on the one hand, and the two Andean countries on the other (EUROPE 10087). This agreement is to be initialled by the parties at the EU-Latin America and Caribbean summit to be held in Madrid in May.
"During the course of the ninth round of negotiations, which were held in Brussels, the negotiators reached an agreement on the key elements of an ambitious trade agreement, which will create a new framework for commercial and investment relations between the European Union and the signatory Andean countries", said the European Commission.
Amongst other things, the agreement provides for full liberalisation in trade in industrial and fisheries products. From its entry into force, 80% of trade in industrial products will be liberalised with Peru and 65% with Colombia. This will help to open up new prospects of market access for the exporters of all of the signatory parties in the following sectors, the Commission explains: - fruit and vegetables; - fisheries products; - automotive; - electronics and machinery; - wines and spirits; - services, particularly telecommunications and bank services. The package on access to the market is added to by a raft of chapters (on intellectual protection, trade defence and competition), which will make it possible to guarantee that joint commercial disciplines are observed. In the field of intellectual property, for example, the EU has negotiated and obtained the protection of 200 geographical indications. The parties undertake to respect human rights ("human rights" clause) and the development of a sustainable economy based on the protection and promotion of employment rights and environmental requirements. For the EU, a major stake was to obtain the eventual removal of customs obstacles for its industry products, particularly the automotive industry. The Europeans were also seeking to improve access to the Peruvian and Colombian markets for wines, spirits and dairy products. Peru and Colombia, for their part, were keen to preserve their interests for bananas, sugar, rum and other agricultural products, such as poultry and beef. (L.C./transl.fl)