Luxembourg 14.10.2024 The EU Council has today adopted a decision to conclude the trade agreement between the European Union and its member states, on one hand, and Colombia and Peru, on the other, as well as a decision to conclude the protocol concerning Ecuador’s accession to this agreement. (Image above: Ecuador)

This is the final step of the ratification process of the agreement, through which the EU and these Andean countries commit to a close, long-term trade relationship, also covering services, intellectual property, public procurement, and human rights. The agreement allows the gradual opening of markets, which will increase trade and investment between the parties.

Although most of the agreement has been provisionally applied since 2013, the conclusion will allow the full implementation of the agreement from 1 November 2024, thus giving an increased degree of legal certainty to this trading relationship.