Trade barriers between the EU and Colombia will be lifted as of 1 August 2013, when a comprehensive and far-reaching trade deal enters into application.
The improved, more stable conditions for trade and investment are expected to boost trade and investment between the EU and the Andean region. The deal was signed by the EU, Colombia and Peru in June 2012 and will now be applied between all three parties.
The agreement will open up markets for products traded between the EU, Colombia and Peru. At the end of the transition period, there will be no customs duties at all on industrial and fisheries products and trade in agricultural products will become considerably more open. As a result, exporters could save as much as €500 million annually in tariffs alone.
Thursday July 26, 2013/ European Commission/ European Union.