Colombia’s free trade agreement with the European Union (E.U.) and Peru is expected to be implemented by the end of March, said the president of the European Commission on Sunday.
Background: Colombia signs FTA with EU
Background: Colombian exporters unprepared for European market: EU
“By providing a framework of stable and predictable execution to our economic actors, the agreement will give further impetus to our bilateral trade and flows of investment, transfer of technology, know-how and added value,” concluded Barroso.
Colombia’s free trade agreement with the European Union has drawn its fair share of controversy since it was announced that both parties had initiated discussions. Human rights activists, union representatives, and analysts have expressed their resevations to the deal for various reasons. E.U. ratification was initially stalled due to their hesitation to entering a deal due to the lack of security in Colombia for union members.
BACKGROUND: Colombia activists ask EU to reconsider FTA