EU - Peru Free Trade Agreement (FTA)

In May 2010 the European Union (EU), Colombia and Peru conclude negotiations to sign a Free Trade Agreement. In June 26, 2012 The Free Trade Agreement (FTA) was subscribed at the premises of the European Union in Brussels - Belgium, with the presence of the European Union Trade Commissioner, Mr. Karel de Gucht and The Ministers of Foreign Trade of Peru and Colombia, Mr. José Luis Silva and Mr. Sergio Díaz-Granados, respectively. The aforementioned Treaty entered into force in March 1, 2013 having among its most important objectives to achieve the opening between their markets and increase the stability of trade framework of the beneficiary countries.

Agreement Benefits

Among the most important benefits of the Treaty we may mention:

  • Expanding access to the European Union Market represented for more than 500 million people.
  • The Immediate tax relief for 95% of the originating tariff lines of Peru.
  • The Immediate tax relief for the entry of machinery to Peru. 
  • Establish a legal framework for the trade of services between companies and legal persons domiciled in Peru and the EU.
  • Provide a Treaty no less favorable to the Peruvian companies in the EU and vice versa.
  • To promote the participation of companies in the Electronic Systemof Procurement and Contracting forPeruand the EU respectively.

 

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