FUTURE TRADE DEALS WITH COLOMBIA/PERU AND CENTRAL AMERICA TO BOOST EU BUSINESS
BUSINESSEUROPE and EUROCHAMBRES welcome the signing of the EU-Colombia/Peru Free Trade Agreement (FTA) on Tuesday, 26 June in Brussels and look forward to the signing of the EU-Central America FTA which is to be signed on Friday 29 June. These signing ceremonies mark an important step in the progress of the FTA, and open the door for formal ratification by the European Parliament.
Colombia, Peru and Central America are not only significant growth markets but also important partners for the EU. EU business that will particularly stand to benefit from the deal include: Telecommunications, Construction, Distribution, Financial and Transport services as well as textiles, chemicals and the wine and spirits sectors. Not only will these and other sectors see a reduction in tariffs, but additional benefits will come from a reduction in behind the border obstacles and the creation of a more favourable business environment.
EU Business strongly supports the EU-Colombia/Peru and the EU-Central America FTA and calls on the European Parliament to ratify this agreement as soon as possible.
The Director General of BUSINESSEUROPE, Philippe de Buck, commented;
“Colombia/Peru and the Central American countries are markets with great potential. The European business community welcomes the signing of these two free trade agreements and hopes for quick ratification. All parties will see important benefits from this agreement which extend beyond simple tariff reductions to wider trade and non-tariff barriers that will lead to more investment.”
Secretary General of EUROCHAMBRES, Arnaldo Abruzzini said:
“With the signing of the EU-Colombia/Peru and EU–Central America FTA, we see an important part of the ambitious EU Latin America trade negotiation agenda move towards completion and we certainly welcome the opportunities this creates for EU businesses. However if we want to reap the full benefits we must now focus on the implementation and enforcement of these and other trade agreements. We as Chambers stand ready to play an active role in this regard.”