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Council of the EU ratifies trade agreement with Columbia, Peru and Ecuador

Published on: 14 October 2024
Published by LNB News

LNB News 14/10/2024

Document Information

Issue Date: 14 October 2024

Published Date: 14 October 2024

Jurisdiction(s): Ecuador, European Union, Peru and Eire

Article summary

The Council of the European Union has ratified a comprehensive trade agreement with Colombia, Peru, and Ecuador. This agreement aims to foster a closer, long-term trade relationship between the EU and these Andean countries, encompassing various sectors such as services, intellectual property, public procurement, and human rights. The gradual market opening facilitated by the agreement is expected to boost trade and investment flows between the parties. While most of the agreement (except parts referring to disarmament and non-proliferation of weapons of mass destruction, the rights and obligations existing under the Paris Convention for the Protection of Industrial Property and the Agreement on Trade-Related Aspects of Intellectual Property Rights Agreement, administrative proceedings and review and appeal) has been provisionally applied since 2013 with Columbia and Peru, and Ecuador since 2017, its full entry into force on 1 November 2024 aims to provide increased legal certainty and stability for this trading relationship.

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