PERU, COLOMBIA AND ECUADOR SIGNED A FREE TRADE AGREEMENT WITH THE UK

Peru, Colombia and Ecuador signed yesterday in Quito a Free Trade Agreement with the United Kingdom which will ensure the continuity of the trade preferences currently applied between them once the United Kingdom exits the European Union.

The agreement is based on the current trade agreement between the Andean countries and the European Union, with some modifications which will guarantee its operativity while keeping in place the favourable conditions for a continuous growth of Peruvian-British trade.

The FTA was signed by the Peruvian Minister for Foreign Trade and Tourism, Edgar Vasquez; the Ecuadorian Minister for Foreign Trade and Investment, Pablo Campana; the Colombian Deputy Minister for Foreign Trade, Laura Valdivieso; and the Ambassador of the United Kingdom in Ecuador, Katherine Ward.

During 2018, Peru exported more than US$ 700 million in goods to the United Kingdom, the second highest amount in the last fourteen years. Around 60% of the total were non-traditional exports, accounting for more than US$ 400 million.

Peru is the first supplier of avocado, the third of mango and blueberries and the fourth in grapes for the United Kingdom. In turn, the UK is the sixth trade partner for Peru in the EU.