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Andean Community | Brussels 30 June 2015

Croatia to formally become part of the EU-Colombia/Peru Trade Agreement

Yesterday the EU, Colombia and Peru signed the additional Protocol to the Trade Agreement between them to take account of the Republic of Croatia’s accession to the European Union. Croatia joined the EU on 1 July 2013. This signature marks another step in the process of ensuring that Croatia fully benefits from the wide network of trade agreements the EU has with third countries.

‘I’m happy to note this important step so as to fully incorporate Croatia into the Agreement,’ said EU Trade Commissioner Cecilia Malmström. ’We must now ensure that the respective internal ratification procedures are completed quickly so that the Protocol enters into force without unnecessary delays.’
 

Background
The comprehensive trade agreement signed with Peru and Colombia in 2012 has been provisionally applied with Peru since 1 March 2013 and with Colombia since 1 August 2013. The Agreement liberalises trade in agricultural and industrial products as well as in services. It also contains provisions on the origin of goods, technical barriers to trade, sanitary and phytosanitary measures, competition, intellectual property and public procurement. It opens up markets for EU, Colombian and Peruvian exporters, eventually bringing annual savings of more than €500m.


In order to take into account Croatia’s accession to the EU, the Parties had to agree on the Additional Protocol to the EU-Colombia/Peru Trade Agreement. Before being applied, the Protocol will now need to complete the required internal procedures in all of the Parties.


For more information

The text of the Trade Agreement between the EU and Colombia and Peru.