Trade Agreement - European Union, Colombia, Peru, and Ecuador

The Trade Agreement between European Union and its Member States, Colombia and Peru, entered into force in August 2013. It provides for the full or partial elimination of border tariffs on the goods traded between the countries, including: 

• Electric motors, turbines and generators; 
• Mechanical equipment including pumps, appliances, and other advanced machinery; 
• Electric accumulators, transformers, capacitors, batteries; 
• Motor vehicles; 
• Mineral ore, slag and ash; 
• Mineral fuels, oils and other products; 
• Metals and their articles e.g. iron and steel; 
• Semiconductors devices and photovoltaic cells; 

Rules of origin delineated in the Agreement include provisions preventing goods only undergoing minimal transformations in one of the signatory countries or incorporating materials of external origin valued above 10% of the transaction value of the good to benefit from preferential tariff treatment.

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