EU - COLOMBIA/PERU FREE TRADE AGREEMENT: WHAT'S IN IT FOR UK COMPANIES?
By Vasiliki Avgoustidi, Berwin Leighton Paisner
The Free Trade Agreement (FTA) between the European Union (EU) and Colombia & Peru has provisionally entered into force on March 1, 2013 between the EU and Peru. Colombia aims to complete ratification before the end of May 2013.
Both Colombia and Peru currently benefit from preferential treatment under the EU GSP + scheme which provides duty-free access for almost all product lines. However, the FTA provides a legal guarantee for the continuation of such preferences, even after the review of the GSP scheme and, in many sectors, the FTA provides more advantages.
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