The trade agreement between the EU and the Andean countries, which has been provisionally applied in large parts since 2013, entered into force on 1 November 2024.
The trade agreement between the EU on the one hand and Peru, Colombia and Ecuador on the other entered into force in full on 1 November 2024. A major part of the agreement had been provisionally applicable in Peru since 1 March 2013, in Colombia since 1 August 2013 and in Ecuador since 1 January 2017.
Article 2 (Disarmament and non-proliferation of weapons of mass destruction), Article 202(1) (Rights and obligations under the Paris Convention and the TRIPS Agreement), Article 291 (Administrative procedure) and Article 292 (Review and appeal) of the Agreement were excluded from provisional application.
This is the final step in the process of ratifying the agreement. It seals the commitment of the EU and the Andean countries to close and long-term trade relations, including services, intellectual property, public procurement and human rights. The agreement allows for the gradual opening of markets, which will lead to more trade and investment between the parties. It creates a more stable and predictable environment for business with a bilateral dispute settlement mechanism and a mediation system for non-tariff barriers to trade. It includes provisions for cooperation in the areas of competitiveness, innovation, modernisation of production, trade facilitation and technology transfer a comprehensive chapter on trade and sustainable development with commitments to ensure a high level of labour and environmental protection, which includes a transparent arbitration system and procedures for the involvement of civil society.
A large part of the agreement has already been provisionally applied since 2013, but the conclusion will enable the full implementation of the agreement from 1 November 2024. This will increase legal certainty for these trade relations.
