13 Apr Uk Colombia Trade Agreement
At a time of unprecedented challenges, we have agreed to work together to ensure that free and fair trade between our two sovereign nations ensures a green and resilient recovery and future prosperity and opportunities that all our citizens deserve. This trade continuity agreement was concluded with a view to the UK`s exit from the EU. The agreement will allow businesses to act as freely as they do today, without additional barriers or tariffs. A bilateral trade agreement between Colombia and the United Kingdom was adopted in the plenary session of Colombia and is now subject to approval by the lower house of the Andean state.
The legislation should maintain uninterrupted access between Colombia and the United Kingdom as part of the Agreement between Colombia and the European Union. This agreement ensures that the UK will retain the same tariff preferences that Colombian products must have on this market since 2013 under the free trade agreement with the European Union. The new trade agreement was designed to maintain the status quo between the two countries after the UK`s withdrawal from the European Union at the end of the year. The terms of the agreement are therefore intended to preserve the same access to trade and the same conditions that were applied in the existing agreement between Colombia and the European Union. The agreement means that after Brexit, trade agreements were signed with ten countries and regions. The trade agreement was signed as part of the UK`s ongoing preparations for leaving the European Union (EU) and ensures that there are no additional trade barriers or tariffs for companies that trade between countries.
We look forward to continuing to strengthen our ambitious trade and investment relations with andean countries as we continue to work closely together in the future. The new agreement maintains the $2.1 billion trade flow between countries and protects British jobs by ensuring continuity for businesses and consumers. The agreement will enter into force as soon as the UK leaves the EU and replaces the current EU-UK agreement. The agreement on trade continuity between the United States and and Andean countries repeats existing trade agreements as much as possible. Colombia approves trade agreements with the United Kingdom The United Kingdom strives to ensure the continuity of existing free trade agreements, which cover some 70 countries, representing about 11% of trade in the UK. This agreement will not enter into force as long as the free trade agreement between the EU and the Andes continues to apply to the UK. “Currently, Colombia has a privileged position. It is one of nearly 20 countries and/or blocs that have already concluded a trade continuation agreement with the UK,” said Laura Valdivieso Jimenez, Deputy Minister of Foreign Trade.
George Hollingbery, Minister for Trade Policy, said: “Today`s agreement with Colombia, Peru and Ecuador will give additional assurances to British companies that trade with the region. We welcomed the progress we have made so far, including the signing of the free trade agreement between the UNITED Kingdom and the Andes, which will allow British and Colombian businesses to trade and develop in liberalised and fair markets. We have agreed to ensure that the benefits of this agreement help create opportunities for producers, consumers and businesses large and small. Agri-food industry: improving sustainability, access, productivity and traceability to increase the choice of traders and consumers and to reward good fiduciary and quality production in this sector extremely important to the Colombian economy.