Colombia-Peru-EU trade deal offer some cheer to textile industry

15 Apr '11

4 min read

Recourse to generally agreed international or regional standards is encouraged as well as is the mutual acceptance of results in certain conformity assessment procedures. These systemic improvements will have a positive impact on pharmaceutical exports but also on the sale of medical devices, optical instruments, automotive and other types of machinery in which the EU is highly competitive but disadvantaged by burdensome foreign standards or technical regulations.

The Trade Agreement will also address specific concerns related to a number of EU key export industries. In textiles for example, the Agreement provides for new disciplines in labelling and marking that will limit the amount of information that can be required on a permanent label and thereby prevent overly burdensome and unnecessary labels that are not of strict relevance to consumers.

Improved market access in government procurement and services

Opening their government procurement market beyond what they have done so far with any given third country, Colombia and Peru have committed to full access to the procurement of local municipalities in addition to that of central authorities above the pre-determined thresholds. This will leave ample room for EU bidders to participate in any significant market. EU operators will in addition benefit from improved conditions in Colombia regarding service concessions and airports as well as the purchase of engineering and printing services.

The services and establishment commitments obtained from Colombia and Peru are very significant and respond to specific EU interests. The agreement will open for EU firms establishing themselves in Colombia and Peru in a broad range of areas including manufacturing industries, services industries, energy production or mining and extraction. It will consolidate and provide market access for cross-border services and for establishment in areas of key interest to the EU, such as financial services, professional services, and maritime transport or telecommunication services.

Click here for more details

European Commission

More European Union News... More Textiles News - Belgium...