The Republic of Colombia, the Republic of Peru
and the European Union, finished the
negotiations of an trade agreement in 2010.
The Trade Agreement between Colombia, Peru and the European Union is esteemed at a
500 millions Euros in duties saved. Is esteemed to increase the economies of the Republic of Colombia and
the Republic of Peru by 1% of Gross
domestic product (GDP).
The European Union is the 2th biggest trade partner of the Andean
Community region (after
the United States).
In 2010, the Andean Community (Bolivia, Colombia, Ecuador and Peru)
represented only the 0.7% of the
International trade of the European Union, while the European Union amounted to 14% of
the Andean Community external Trade (2009).
In 2010, the European Union imports from Andean Community countries are mainly primary products:
agricultural export products (41.1%); fuels and mining products (44.7%).
The European Union exports to Andean Community countries are: manufactured products (81%), machinery and
transport equipment (47%) and chemical
Example of the course Trade Agreement between Colombia,
Peru and the European Union :