Brussels, 21/09/2012 (Agence Europe) - On Thursday 20 September, with the European Parliament's foreign affairs committee's endorsement of the multiparty free trade agreement between the EU on one hand, and Peru and Colombia on the other, there is every hope that the agreement will be ratified by the end of the year. Before this, however, it is necessary to have the standpoint of the international trade committee, mid-October.
The trade agreement names respect of democratic principles, human rights and rule of law as part of the “essential elements”, meaning that, if these are not observed, there could be partial or total suspension of the agreement, says the rapporteur, José Ignacio Salafranca (EPP, Spain). The agreement includes a negotiated structure for gradual liberalisation of the trade in goods and services, public procurement, and measures for encouraging investment resulting in a framework that ensures legal security and certainty. Finally, the agreement leaves the door open to the other countries of the Andean Community (Bolivia and Ecuador).
The non-binding opinion of the foreign affairs committee was adopted by 54 votes to 9 and one abstention. Initialled in March 2011, the multipartite free trade agreement with Colombia and Peru was signed in June this year by the Council of the EU and the governments of the two South American states (see EUROPE 10642). Its final ratification by the European Parliament as a whole is scheduled for later this autumn.
The European Parliament is still negotiating with Council on the rules aimed at preventing injury for European banana producers in the event of massive imports under the agreement. Also, the Parliament has set out its conditions to this trade agreement in a non-legislative resolution adopted mid-June, calling on Colombia and Peru for a binding roadmap committing them to protect human rights and employment, trade unions and the environment (EUROPE 10633). (EH/transl.jl)