In November 2010, Peru and the European Union met in Brussels to conduct a legal review of the bilateral free trade agreement. The free trade agreement is expected to be concluded in late 2011 or early 2012, after the agreement has been approved by their respective congresses. On 11 November 2016, the EU, Ecuador, Colombia and Peru signed Ecuador`s Protocol of Accession to the EU Free Trade Agreement with Colombia and Peru. This signature followed the Council`s decision to sign this Protocol and to apply it provisionally. The chief negotiators of the European Commission, Peru and Colombia met in Brussels on 23 and 24 March 2011 to question the final texts of the agreement between the parties. The initialling shall be followed by the process of translation, signature and adoption of this Agreement so that it can enter into force. On 16 March 2012, the Council of the European Union approved the Free Trade Agreement with Colombia and Peru. The agreement was reached at a meeting of the Commercial Affairs Council. The agreement between Peru, Colombia and the European Union was signed in Brussels, Belgium, on 26 June 2012. The agreement contains detailed provisions on trade facilitation (Annex VII). In May 2002, a new political dialogue and cooperation agreement between the European Union (EU) and the Andean Community was launched at the EU-Latin America and Caribbean Summit in Madrid. This agreement was signed in Rome in December 2003 and will replace, once ratified, the 1996 Rome Declaration and the 1993 Framework Cooperation Agreement.
At the 2005 EU Ministerial Meeting, andean Community Ministers informed the EU that the 2003 Agreement had been signed by the Foreign Affairs Council of the Andean Community on 11 July 2004 and Andean Community Decision No 595 was adopted on 27 July 2004. At the EU-Andean Community high-level meeting in July 2006, both sides agreed that the Political Dialogue and Cooperation Agreement should be ratified swiftly and that a future Association Agreement should be comprehensive and encompass political, cooperation and trade pillars. Ms Malmström said: “This agreement marks an important milestone in Ecuador`s relations with the EU and creates the right framework to boost trade and investment on both sides. It is important that the agreement enters into force quickly so that exporters, workers and citizens can benefit from it. We need to create more trade between us, because trade is a key driver of growth and jobs in the EU, but also of an economy like Ecuador, which wants to diversify and integrate into global value chains. It creates a pillar for the European economy and an anchor for reforms in Ecuador. Discussions began in January 2009 for a trade agreement between the EU and Colombia, Ecuador and Peru. In July 2009, Ecuador suspended its participation in the talks. Negotiations for a trade agreement between the EU and Colombia and Peru were concluded in March 2010, with the agreement provisionally applied from March 2013 with Peru and in August 2013 with Colombia. The benefits of the agreement for Colombia and Peru are already visible. For example, more than 500 Colombian companies and 1100 Peruvian companies, mainly small and medium-sized enterprises, exported to the EU for the first time since the entry into force of the agreement. The 1993 Framework Agreement defined various areas of cooperation and set up Joint Monitoring Committees and a Subcommittee on Trade which continue to act.
A Joint Committee (initially set up under the 1983 Cooperation Agreement) continued to operate. On 30 June 2015, the European Union, Colombia and Peru signed an additional protocol allowing Croatia to formally become part of the agreement. All Parties must complete their respective internal procedures for the entry into force of the Protocol. . . .