A trade agreement signed Tuesday by the EU with Colombia...
A trade agreement signed Tuesday by the EU with Colombia and Peru could save exporters 270 million euros ($337 million) in duties each year, the European Commission said. The pact will open up market opportunities for several key EU export…
Sign up for a free preview to unlock the rest of this article
Timely, relevant coverage of court proceedings and agency rulings involving tariffs, classification, valuation, origin and antidumping and countervailing duties. Each day, Trade Law Daily subscribers receive a daily headline email, in-depth PDF edition and access to all relevant documents via our trade law source document library and website.
industries, which will benefit from the removal of tariffs, it said. There will be noticeable tariff reductions on telecom products, among other things, it said. The telecom equipment industry alone will save 18 million euros annually, supporting the development of an EU telecom services industry in the region, it said. The agreement will consolidate and provide market access for cross-border services and for establishment of key areas of interest to Europe, including telecom services, it said. The pact also provides for copyright and trademark protections, the EC said. It calls for technical assistance and capacity-building initiatives to promote the competitiveness and innovation potential of Peru and Colombia, it said. Production processes will be modernized, which will make trade easier and allow technology transfer between the parties, the EC said. This will take place in areas of common interest, particularly on technical barriers to trade and intellectual property rights, it said.