European Parliament Committee Backs EU Trade Deal with Peru and Colombia
European Union lawmakers should consent to a proposed EU trade deal with Colombia and Peru, the European Parliament International Trade (INTA) Committee said Tuesday. Once the agreement becomes effective, the parties will gradually remove customs duties on exports and imports,…
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and liberalize services and public procurement markets, it said. In Colombia and Peru, the biggest beneficiaries of tariff removal will be fruit and shrimp producers, while the EU will see its biggest gains in machinery, cars and chemicals. The trade agreement commits the parties to promote human rights and environmental standards. The deal was signed on June 26 but must be endorsed by Parliament, which could vote in December.