Eu Trade Agreement with Peru

The European Union (EU) and Peru signed a trade agreement in 2013, liberalizing trade between the two regions. This agreement not only removes trade barriers but also strengthens cooperation and promotes sustainable development.

The EU-Peru Trade Agreement is one of the most comprehensive agreements that the EU has signed with an Andean country. It covers a wide range of issues such as the elimination of tariffs, customs procedures, technical barriers to trade, intellectual property, investment, and sustainable development.

With the elimination of tariffs, EU exporters have better access to the Peruvian market, and vice versa. This agreement also simplifies customs procedures, making trade easier and faster between the two regions. Technical barriers to trade, such as regulations and standards, are also addressed in the agreement to ensure that both parties meet the necessary requirements for their products to be traded.

Intellectual property is also protected under this agreement. This means that the EU and Peru recognize each other`s trademarks, patents, and other intellectual property rights, providing assurance to companies that their intellectual property rights will be respected in the other region.

The agreement also encourages investment between the EU and Peru. It provides a stable legal framework for investors, protecting their investments and ensuring a level playing field. This creates opportunities for EU businesses to invest in Peru and for Peruvian businesses to invest in the EU.

Sustainable development is also a key element of this agreement. Both the EU and Peru have committed to promoting sustainable development, including the protection of the environment and labor rights. The agreement includes provisions on labor and environmental standards, ensuring that trade benefits are not achieved at the expense of workers or the environment.

In conclusion, the EU-Peru Trade Agreement is a comprehensive agreement that promotes trade and cooperation between the two regions. This agreement provides opportunities for businesses in both regions to expand their markets and ensures that trade is conducted in a fair and sustainable manner.