EU-Peru FTA takes effect

Trade barriers between the EU and Peru were lifted as of 1 March 2013, when the EU's ambitious and comprehensive trade agreement concluded with Peru and Colombia in 2012 will be provisionally applied with Peru. The Agreement will open up markets for both EU and Peruvian exporters eventually bringing annual savings of more than €500m.

In this context, the agreement will substantially improve market access for Dutch and Peruvian exporters. In the long run, exporters of industrial and fisheries products will no longer have to pay customs duties and markets for agricultural products will be opened up considerably.

Besides the trade dimension of the agreement, the new regime will improve investment conditions, providing a stable, transparent, predictable and enforceable business environment.

The Trade Agreement will considerably improve the already increasing business relations between Perú and the Netherlands. This is expected to create significant new opportunities for businesses and consumers on both sides.

The economic bilateral relations between Peru and the Netherlands have greatly expanded in the last decade. The Netherlands has become a Hub for Peruvian exports to Europe, mainly for the agribusiness sector, with a total bilateral trade of nearly 1 billion dollars; the fourth main investor in Perú, with an investment stock of more than 1.5 billion dollars; and the sixth European country with the largest number of tourists visiting Perú, who benefit from the Dutch KLM daily non-stop flights Amsterdam-Lima.

For more information:
Cesar Talavera
ctalavera@embassyofperu.nl