BETA


2016/0092(NLE) EU/Colombia and Peru Trade Agreement: accession of Ecuador. Protocol

Progress: Awaiting final decision

RoleCommitteeRapporteurShadows
Lead INTA SCHOLZ Helmut (icon: GUE/NGL GUE/NGL) FISAS AYXELÀ Santiago (icon: PPE PPE), LANGE Bernd (icon: S&D S&D), ZAHRADIL Jan (icon: ECR ECR), TREMOSA I BALCELLS Ramon (icon: ALDE ALDE), KELLER Ska (icon: Verts/ALE Verts/ALE), BORRELLI David (icon: EFDD EFDD)
Committee Opinion AFET BROK Elmar (icon: PPE PPE)
Committee Opinion DEVE
Lead committee dossier:
Legal Basis:
TFEU 091, TFEU 100-p2, TFEU 207-p4, TFEU 218-p6a

Events

2016/12/14
   EP - Results of vote in Parliament
2016/12/14
   EP - Decision by Parliament, 1st reading/single reading
Details

The European Parliament adopted by 544 to 114, with 44 abstentions, a legislative resolution on the draft Council decision on the conclusion, on behalf of the Union, of the Protocol of Accession to the Trade Agreement between the European Union and its Member States, of the one part, and Colombia and Peru, of the other part, to take account of the accession of Ecuador.

In line with the recommendation made by its Committee on International Trade and the opinion of the Committee on Foreign Affairs, Parliament gave its consent to the conclusion of the Protocol.

Documents
2016/12/13
   EP - Debate in Parliament
2016/12/01
   EP - Committee report tabled for plenary, 1st reading/single reading
Details

The Committee on International Trade adopted the report by Helmut SCHOLZ (GUE/NGL, DE) on the draft Council decision on the conclusion, on behalf of the Union, of the Protocol of Accession to the Trade Agreement between the European Union and its Member States, of the one part, and Colombia and Peru, of the other part, to take account of the accession of Ecuador.

The committee recommended that the European Parliament give its consent to the conclusion of the Protocol.

To recall, on 20 November 2015 the European Parliament adopted a resolution on the accession of Ecuador to the Trade Agreement between the EU and Peru and Columbia, in which it welcomed the conclusion of the negotiations with Ecuador, and encouraged the quick and complete entry into force and implementation of this agreement. Members considered that this would allow Ecuador the opportunity to continue stimulating policies on economic and social sustainable development.

Documents
2016/11/29
   EP - Vote in committee, 1st reading/single reading
2016/11/24
   EP - Committee referral announced in Parliament, 1st reading/single reading
2016/11/14
   CSL - Council Meeting
2016/10/26
   EP - Committee opinion
Documents
2016/10/12
   CSL - Legislative proposal
Documents
2016/10/12
   CSL - Document attached to the procedure
Documents
2016/10/12
   EC - Legislative proposal published
Documents
2016/09/20
   EP - Committee draft report
Documents
2016/05/24
   EP - Committee Opinion
2016/04/20
   EP - Responsible Committee
2016/04/04
   EC - Document attached to the procedure
2016/04/04
   EC - Initial legislative proposal published
Details

PURPOSE: to conclude the Protocol of Accession to the Trade Agreement between the European Union and its Member States, of the one part, and Colombia and Peru, of the other part, to take account of the Accession of Ecuador.

PROPOSED ACT: Council Decision.

ROLE OF THE EUROPEAN PARLIAMENT: Council may adopt the act only if Parliament has given its consent to the act.

BACKGROUND: on 19 January 2009, the Council authorised the Commission to negotiate a trade agreement on behalf of the Union with those Member Countries of the Andean Community (Bolivia, Colombia, Ecuador and Peru) which shared the aim to reach a balanced, ambitious, comprehensive and WTO-compatible agreement.

On 26 June 2012, the EU signed a Trade Agreement with Colombia and Peru. The Trade Agreement has been provisionally applied since 1 March 2013 for Peru and 1 August 2013 for Colombia.

On 17 July 2014, the Union and Ecuador concluded their negotiations on the Protocol to take account of the Accession of Ecuador to the Trade Agreement. The text of the Protocol was approved by the Trade Committee of the Trade Agreement at its meeting of 8 February 2016.

CONTENT: the proposal for a Council Decision constitutes the legal instrument for the conclusion of the Protocol of Accession to the Trade Agreement between the European Union and its Member States, on the one part, and Colombia and Peru on the other part, to take account of the Accession of Ecuador .

The Protocol in question establishes the necessary modifications to the Trade Agreement to take account of the accession of Ecuador. The Trade Agreement establishes the conditions for EU economic operators to take full advantage of the opportunities and the emerging complementarities between our respective economies:

over the course of its implementation, the Agreement will fully relieve EU exporters of industrial and fisheries products to Ecuador from paying customs duties. In addition, it will allow for the dismantling of several important non-tariff barriers; Ecuador will benefit from substantial new access to the EU market in particular for their key agriculture export: bananas, and the EU will grant 100% duty-free coverage for fisheries of Ecuadorian origin and liberalise 99,9% of industrial tariff lines and 100% of industrial imports at entry into force; on services and establishment as well as public procurement coverage , the agreement matches the ambition of the Agreement with Colombia and Peru. It includes substantial commitments on all key sectors (notably financial services, telecommunications, transport) for cross-border supply and establishment in particular, while the EU's concerns in terms of temporary presence of natural persons for business purposes have been dealt with satisfactorily. In procurement, the EU has obtained the commitment of institutions at both central and sub-central level with appropriately low thresholds; the Agreement also establishes a set of disciplines which go beyond those agreed in the multilateral framework , notably on intellectual property (e.g. 116 EU geographical indications protected in Ecuador, data protection conditions clarified); sustainable development; competition; technical barriers to trade; Sanitary and Phytosanitary measures, etc; Ecuador will participate in the Trade Committee as well as in a set of sub-committees which allow for consultations on specific trade concerns under its different titles.

According to the Commission, the accession of Ecuador to the existing Trade Agreement with Colombia and Peru, which is a balanced, ambitious, comprehensive and WTO-compatible agreement, reinforces the legal framework of the EU trade relations with this country and facilitates reciprocal trade and investment. Moreover, accession to the Trade Agreement will provide an anchor for Ecuador's economic reforms and efforts to integrate the global economy and increase welfare.

BUDGETARY IMPLICATIONS: foregone duty is estimated to amount to EUR 80 million upon full implementation of the Agreement after ten years.

Documents

Activities

Votes

A8-0362/2016 - Helmut Scholz - Approbation

2016/12/14 Outcome: +: 544, -: 114, 0: 44
DE IT PL GB RO ES CZ BG HU BE PT SK AT FI HR LT NL SE DK SI EE EL MT IE LV LU CY FR
Total
88
68
50
66
30
49
20
16
20
21
21
13
18
10
11
10
26
19
12
8
6
21
5
9
6
3
5
71
icon: PPE PPE
203

Belgium PPE

Abstain (1)

4

Finland PPE

For (1)

1

Denmark PPE

For (1)

1

Estonia PPE

For (1)

1

Malta PPE

2

Luxembourg PPE

For (1)

1

Cyprus PPE

1
icon: S&D S&D
181
3

Croatia S&D

2

Netherlands S&D

3

Slovenia S&D

For (1)

1

Estonia S&D

For (1)

1

Malta S&D

3

Ireland S&D

For (1)

1

Latvia S&D

1

Luxembourg S&D

For (1)

1

Cyprus S&D

2
icon: ECR ECR
66

Italy ECR

2

Romania ECR

For (1)

1

Czechia ECR

2

Bulgaria ECR

2
2

Croatia ECR

For (1)

1

Lithuania ECR

1

Netherlands ECR

2

Greece ECR

For (1)

1
icon: ALDE ALDE
65

United Kingdom ALDE

1

Romania ALDE

3

Portugal ALDE

1

Austria ALDE

For (1)

1

Croatia ALDE

2

Slovenia ALDE

For (1)

1

Estonia ALDE

3

Ireland ALDE

For (1)

1

Luxembourg ALDE

For (1)

1
icon: EFDD EFDD
40

Poland EFDD

1

Czechia EFDD

For (1)

1

Lithuania EFDD

For (1)

1

Sweden EFDD

2

France EFDD

1
icon: NI NI
16

Germany NI

Against (1)

2

Italy NI

For (1)

1

Poland NI

1

United Kingdom NI

For (1)

Against (2)

3

Hungary NI

2

France NI

Against (1)

2
icon: GUE/NGL GUE/NGL
46

Italy GUE/NGL

Abstain (1)

3

Portugal GUE/NGL

Abstain (1)

4

Finland GUE/NGL

For (1)

1

Netherlands GUE/NGL

3

Sweden GUE/NGL

Against (1)

1

Denmark GUE/NGL

Against (1)

1

Ireland GUE/NGL

Abstain (1)

3

Cyprus GUE/NGL

2
icon: ENF ENF
38

Germany ENF

Against (1)

1

Poland ENF

For (1)

1

United Kingdom ENF

Abstain (1)

1

Romania ENF

Against (1)

1

Belgium ENF

Against (1)

1

Netherlands ENF

4
icon: Verts/ALE Verts/ALE
47

United Kingdom Verts/ALE

6

Hungary Verts/ALE

2

Belgium Verts/ALE

2

Austria Verts/ALE

3

Croatia Verts/ALE

Abstain (1)

1

Lithuania Verts/ALE

Against (1)

1

Netherlands Verts/ALE

2

Sweden Verts/ALE

Abstain (1)

4

Denmark Verts/ALE

Against (1)

1

Slovenia Verts/ALE

Against (1)

1

Estonia Verts/ALE

Abstain (1)

1

Latvia Verts/ALE

Against (1)

1

History

(these mark the time of scraping, not the official date of the change)

activities
  • date
    2016-04-04T00:00:00
    docs
    • url
      http://www.europarl.europa.eu/RegData/docs_autres_institutions/commission_europeenne/com/2016/0174/COM_COM(2016)0174_EN.docx
      text
      • PURPOSE: to conclude the Protocol of Accession to the Trade Agreement between the European Union and its Member States, of the one part, and Colombia and Peru, of the other part, to take account of the Accession of Ecuador.

        PROPOSED ACT: Council Decision.

        ROLE OF THE EUROPEAN PARLIAMENT: Council may adopt the act only if Parliament has given its consent to the act. 

        BACKGROUND: on 19 January 2009, the Council authorised the Commission to negotiate a trade agreement on behalf of the Union with those Member Countries of the Andean Community (Bolivia, Colombia, Ecuador and Peru) which shared the aim to reach a balanced, ambitious, comprehensive and WTO-compatible agreement.

        On 26 June 2012, the EU signed a Trade Agreement with Colombia and Peru. The Trade Agreement has been provisionally applied since 1 March 2013 for Peru and 1 August 2013 for Colombia.

        On 17 July 2014, the Union and Ecuador concluded their negotiations on the Protocol to take account of the Accession of Ecuador to the Trade Agreement. The text of the Protocol was approved by the Trade Committee of the Trade Agreement at its meeting of 8 February 2016.

        CONTENT: the proposal for a Council Decision constitutes the legal instrument for the conclusion of the Protocol of Accession to the Trade Agreement between the European Union and its Member States, on the one part, and Colombia and Peru on the other part, to take account of the Accession of Ecuador.

        The Protocol in question establishes the necessary modifications to the Trade Agreement to take account of the accession of Ecuador. The Trade Agreement establishes the conditions for EU economic operators to take full advantage of the opportunities and the emerging complementarities between our respective economies:

        • over the course of its implementation, the Agreement will fully relieve EU exporters of industrial and fisheries products to Ecuador from paying customs duties. In addition, it will allow for the dismantling of several important non-tariff barriers;
        • Ecuador will benefit from substantial new access to the EU market in particular for their key agriculture export: bananas, and the EU will grant 100% duty-free coverage for fisheries of Ecuadorian origin and liberalise 99,9% of industrial tariff lines and 100% of industrial imports at entry into force;
        • on services and establishment as well as public procurement coverage, the agreement matches the ambition of the Agreement with Colombia and Peru. It includes substantial commitments on all key sectors (notably financial services, telecommunications, transport) for cross-border supply and establishment in particular, while the EU's concerns in terms of temporary presence of natural persons for business purposes have been dealt with satisfactorily. In procurement, the EU has obtained the commitment of institutions at both central and sub-central level with appropriately low thresholds;
        • the Agreement also establishes a set of disciplines which go beyond those agreed in the multilateral framework, notably on intellectual property (e.g. 116 EU geographical indications protected in Ecuador, data protection conditions clarified); sustainable development; competition; technical barriers to trade; Sanitary and Phytosanitary measures, etc;
        • Ecuador will participate in the Trade Committee as well as in a set of sub-committees which allow for consultations on specific trade concerns under its different titles.

        According to the Commission, the accession of Ecuador to the existing Trade Agreement with Colombia and Peru, which is a balanced, ambitious, comprehensive and WTO-compatible agreement, reinforces the legal framework of the EU trade relations with this country and facilitates reciprocal trade and investment. Moreover, accession to the Trade Agreement will provide an anchor for Ecuador's economic reforms and efforts to integrate the global economy and increase welfare.

        BUDGETARY IMPLICATIONS: foregone duty is estimated to amount to EUR 80 million upon full implementation of the Agreement after ten years.

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      • The Committee on International Trade adopted the report by Helmut SCHOLZ (GUE/NGL, DE) on the draft Council decision on the conclusion, on behalf of the Union, of the Protocol of Accession to the Trade Agreement between the European Union and its Member States, of the one part, and Colombia and Peru, of the other part, to take account of the accession of Ecuador.

        The committee recommended that the European Parliament give its consent to the conclusion of the Protocol.

        To recall, on 20 November 2015 the European Parliament adopted a resolution on the accession of Ecuador to the Trade Agreement between the EU and Peru and Columbia, in which it welcomed the conclusion of the negotiations with Ecuador, and encouraged the quick and complete entry into force and implementation of this agreement. Members considered that this would allow Ecuador the opportunity to continue stimulating policies on economic and social sustainable development.

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  • The European Parliament adopted by 544 to 114, with 44 abstentions, a legislative resolution on the draft Council decision on the conclusion, on behalf of the Union, of the Protocol of Accession to the Trade Agreement between the European Union and its Member States, of the one part, and Colombia and Peru, of the other part, to take account of the accession of Ecuador.

    In line with the recommendation made by its Committee on International Trade and the opinion of the Committee on Foreign Affairs, Parliament gave its consent to the conclusion of the Protocol.

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  • The Committee on International Trade adopted the report by Helmut SCHOLZ (GUE/NGL, DE) on the draft Council decision on the conclusion, on behalf of the Union, of the Protocol of Accession to the Trade Agreement between the European Union and its Member States, of the one part, and Colombia and Peru, of the other part, to take account of the accession of Ecuador.

    The committee recommended that the European Parliament give its consent to the conclusion of the Protocol.

    To recall, on 20 November 2015 the European Parliament adopted a resolution on the accession of Ecuador to the Trade Agreement between the EU and Peru and Columbia, in which it welcomed the conclusion of the negotiations with Ecuador, and encouraged the quick and complete entry into force and implementation of this agreement. Members considered that this would allow Ecuador the opportunity to continue stimulating policies on economic and social sustainable development.

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PURPOSE: to conclude the Protocol of Accession to the Trade Agreement between the European Union and its Member States, of the one part, and Colombia and Peru, of the other part, to take account of the Accession of Ecuador.

PROPOSED ACT: Council Decision.

ROLE OF THE EUROPEAN PARLIAMENT: Council may adopt the act only if Parliament has given its consent to the act. 

BACKGROUND: on 19 January 2009, the Council authorised the Commission to negotiate a trade agreement on behalf of the Union with those Member Countries of the Andean Community (Bolivia, Colombia, Ecuador and Peru) which shared the aim to reach a balanced, ambitious, comprehensive and WTO-compatible agreement.

On 26 June 2012, the EU signed a Trade Agreement with Colombia and Peru. The Trade Agreement has been provisionally applied since 1 March 2013 for Peru and 1 August 2013 for Colombia.

On 17 July 2014, the Union and Ecuador concluded their negotiations on the Protocol to take account of the Accession of Ecuador to the Trade Agreement. The text of the Protocol was approved by the Trade Committee of the Trade Agreement at its meeting of 8 February 2016.

CONTENT: the proposal for a Council Decision constitutes the legal instrument for the conclusion of the Protocol of Accession to the Trade Agreement between the European Union and its Member States, on the one part, and Colombia and Peru on the other part, to take account of the Accession of Ecuador.

The Protocol in question establishes the necessary modifications to the Trade Agreement to take account of the accession of Ecuador. The Trade Agreement establishes the conditions for EU economic operators to take full advantage of the opportunities and the emerging complementarities between our respective economies:

  • over the course of its implementation, the Agreement will fully relieve EU exporters of industrial and fisheries products to Ecuador from paying customs duties. In addition, it will allow for the dismantling of several important non-tariff barriers;
  • Ecuador will benefit from substantial new access to the EU market in particular for their key agriculture export: bananas, and the EU will grant 100% duty-free coverage for fisheries of Ecuadorian origin and liberalise 99,9% of industrial tariff lines and 100% of industrial imports at entry into force;
  • on services and establishment as well as public procurement coverage, the agreement matches the ambition of the Agreement with Colombia and Peru. It includes substantial commitments on all key sectors (notably financial services, telecommunications, transport) for cross-border supply and establishment in particular, while the EU's concerns in terms of temporary presence of natural persons for business purposes have been dealt with satisfactorily. In procurement, the EU has obtained the commitment of institutions at both central and sub-central level with appropriately low thresholds;
  • the Agreement also establishes a set of disciplines which go beyond those agreed in the multilateral framework, notably on intellectual property (e.g. 116 EU geographical indications protected in Ecuador, data protection conditions clarified); sustainable development; competition; technical barriers to trade; Sanitary and Phytosanitary measures, etc;
  • Ecuador will participate in the Trade Committee as well as in a set of sub-committees which allow for consultations on specific trade concerns under its different titles.

According to the Commission, the accession of Ecuador to the existing Trade Agreement with Colombia and Peru, which is a balanced, ambitious, comprehensive and WTO-compatible agreement, reinforces the legal framework of the EU trade relations with this country and facilitates reciprocal trade and investment. Moreover, accession to the Trade Agreement will provide an anchor for Ecuador's economic reforms and efforts to integrate the global economy and increase welfare.

BUDGETARY IMPLICATIONS: foregone duty is estimated to amount to EUR 80 million upon full implementation of the Agreement after ten years.

New

PURPOSE: to conclude the Protocol of Accession to the Trade Agreement between the European Union and its Member States, of the one part, and Colombia and Peru, of the other part, to take account of the Accession of Ecuador.

PROPOSED ACT: Council Decision.

ROLE OF THE EUROPEAN PARLIAMENT: Council may adopt the act only if Parliament has given its consent to the act. 

BACKGROUND: on 19 January 2009, the Council authorised the Commission to negotiate a trade agreement on behalf of the Union with those Member Countries of the Andean Community (Bolivia, Colombia, Ecuador and Peru) which shared the aim to reach a balanced, ambitious, comprehensive and WTO-compatible agreement.

On 26 June 2012, the EU signed a Trade Agreement with Colombia and Peru. The Trade Agreement has been provisionally applied since 1 March 2013 for Peru and 1 August 2013 for Colombia.

On 17 July 2014, the Union and Ecuador concluded their negotiations on the Protocol to take account of the Accession of Ecuador to the Trade Agreement. The text of the Protocol was approved by the Trade Committee of the Trade Agreement at its meeting of 8 February 2016.

CONTENT: the proposal for a Council Decision constitutes the legal instrument for the conclusion of the Protocol of Accession to the Trade Agreement between the European Union and its Member States, on the one part, and Colombia and Peru on the other part, to take account of the Accession of Ecuador.

The Protocol in question establishes the necessary modifications to the Trade Agreement to take account of the accession of Ecuador. The Trade Agreement establishes the conditions for EU economic operators to take full advantage of the opportunities and the emerging complementarities between our respective economies:

  • over the course of its implementation, the Agreement will fully relieve EU exporters of industrial and fisheries products to Ecuador from paying customs duties. In addition, it will allow for the dismantling of several important non-tariff barriers;
  • Ecuador will benefit from substantial new access to the EU market in particular for their key agriculture export: bananas, and the EU will grant 100% duty-free coverage for fisheries of Ecuadorian origin and liberalise 99,9% of industrial tariff lines and 100% of industrial imports at entry into force;
  • on services and establishment as well as public procurement coverage, the agreement matches the ambition of the Agreement with Colombia and Peru. It includes substantial commitments on all key sectors (notably financial services, telecommunications, transport) for cross-border supply and establishment in particular, while the EU's concerns in terms of temporary presence of natural persons for business purposes have been dealt with satisfactorily. In procurement, the EU has obtained the commitment of institutions at both central and sub-central level with appropriately low thresholds;
  • the Agreement also establishes a set of disciplines which go beyond those agreed in the multilateral framework, notably on intellectual property (e.g. 116 EU geographical indications protected in Ecuador, data protection conditions clarified); sustainable development; competition; technical barriers to trade; Sanitary and Phytosanitary measures, etc;
  • Ecuador will participate in the Trade Committee as well as in a set of sub-committees which allow for consultations on specific trade concerns under its different titles.

According to the Commission, the accession of Ecuador to the existing Trade Agreement with Colombia and Peru, which is a balanced, ambitious, comprehensive and WTO-compatible agreement, reinforces the legal framework of the EU trade relations with this country and facilitates reciprocal trade and investment. Moreover, accession to the Trade Agreement will provide an anchor for Ecuador's economic reforms and efforts to integrate the global economy and increase welfare.

BUDGETARY IMPLICATIONS: foregone duty is estimated to amount to EUR 80 million upon full implementation of the Agreement after ten years.

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  • PURPOSE: to conclude the Protocol of Accession to the Trade Agreement between the European Union and its Member States, of the one part, and Colombia and Peru, of the other part, to take account of the Accession of Ecuador.

    PROPOSED ACT: Council Decision.

    ROLE OF THE EUROPEAN PARLIAMENT: Council may adopt the act only if Parliament has given its consent to the act. 

    BACKGROUND: on 19 January 2009, the Council authorised the Commission to negotiate a trade agreement on behalf of the Union with those Member Countries of the Andean Community (Bolivia, Colombia, Ecuador and Peru) which shared the aim to reach a balanced, ambitious, comprehensive and WTO-compatible agreement.

    On 26 June 2012, the EU signed a Trade Agreement with Colombia and Peru. The Trade Agreement has been provisionally applied since 1 March 2013 for Peru and 1 August 2013 for Colombia.

    On 17 July 2014, the Union and Ecuador concluded their negotiations on the Protocol to take account of the Accession of Ecuador to the Trade Agreement. The text of the Protocol was approved by the Trade Committee of the Trade Agreement at its meeting of 8 February 2016.

    CONTENT: the proposal for a Council Decision constitutes the legal instrument for the conclusion of the Protocol of Accession to the Trade Agreement between the European Union and its Member States, on the one part, and Colombia and Peru on the other part, to take account of the Accession of Ecuador.

    The Protocol in question establishes the necessary modifications to the Trade Agreement to take account of the accession of Ecuador. The Trade Agreement establishes the conditions for EU economic operators to take full advantage of the opportunities and the emerging complementarities between our respective economies:

    • over the course of its implementation, the Agreement will fully relieve EU exporters of industrial and fisheries products to Ecuador from paying customs duties. In addition, it will allow for the dismantling of several important non-tariff barriers;
    • Ecuador will benefit from substantial new access to the EU market in particular for their key agriculture export: bananas, and the EU will grant 100% duty-free coverage for fisheries of Ecuadorian origin and liberalise 99,9% of industrial tariff lines and 100% of industrial imports at entry into force;
    • on services and establishment as well as public procurement coverage, the agreement matches the ambition of the Agreement with Colombia and Peru. It includes substantial commitments on all key sectors (notably financial services, telecommunications, transport) for cross-border supply and establishment in particular, while the EU's concerns in terms of temporary presence of natural persons for business purposes have been dealt with satisfactorily. In procurement, the EU has obtained the commitment of institutions at both central and sub-central level with appropriately low thresholds;
    • the Agreement also establishes a set of disciplines which go beyond those agreed in the multilateral framework, notably on intellectual property (e.g. 116 EU geographical indications protected in Ecuador, data protection conditions clarified); sustainable development; competition; technical barriers to trade; Sanitary and Phytosanitary measures, etc;
    • Ecuador will participate in the Trade Committee as well as in a set of sub-committees which allow for consultations on specific trade concerns under its different titles.

    According to the Commission, the accession of Ecuador to the existing Trade Agreement with Colombia and Peru, which is a balanced, ambitious, comprehensive and WTO-compatible agreement, reinforces the legal framework of the EU trade relations with this country and facilitates reciprocal trade and investment. Moreover, accession to the Trade Agreement will provide an anchor for Ecuador's economic reforms and efforts to integrate the global economy and increase welfare.

    BUDGETARY IMPLICATIONS: foregone duty is estimated to amount to EUR 80 million upon full implementation of the Agreement after ten years.

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