EU-Colombia/Peru Trade Agreement: all counterparts will benefit.

The export of Colombian and Peruvian bananas and shrimps to the EU will benefit from lower tariffs. EU telecommunications and construction, and also machinery and automobiles, will have enhanced access to these two South-American countries' markets.

The Committee on International Trade of the European Parliament today gave its consent to the Council decision to conclude a trade agreement between the EU and Colombia and Peru, by voting in favour of a report by EPP Group Member Mário David.

Colombia and Peru have already been freely accessing the EU market. Trade between the EU and Colombia and Peru grew by 10% between 2006 and 2010. The ratification and entry-into-force of this agreement will ensure this continues. Although focusing mainly on trade and economic aspects, Mário David's report also calls for greater respect for human and labour rights, as well as for higher environmental protection in these two South-American countries.

The Rapporteur is happy to have obtained the wide support of the other political groups, who contributed to reaching a political consensus - very important for all parties involved.

According to Mário David, "both Colombia and Peru had a positive approach to the European Parliament's previous report and, using a very innovative approach, decided to climb to a higher level of legislative quality, rule of law, transparency, environmental protection and the participation of citizens in the law-making process, which will undoubtedly bring benefits to both peoples and future generations".

According to an independent study, in the long term, Colombian GDP could be boosted by 1.3% and Peruvian GDP by 0.7%.

"Now it's time for our peoples to benefit from a stable and durable legal business framework which will bring positive impacts on both sides of the ocean," concluded Mr David.