December 14, 2018
Latest News
European Union

Peru has greatly benefited from free-trade deal with EU, German MEP says

Lima, Feb 16 (efe-epa).- The free-trade agreement linking the European Union with Colombia and Peru, an accord that went into effect five years ago, has greatly benefited that latter country, a German member of the European Parliament (MEP) says.

Bernd Lange, the head of a delegation from the EP's Committee on International Trade (INTA) that is visiting Lima this week, made that assessment at a press conference.

"In terms of goods and services, things are going very well. We can say that Peru has a trade surplus, and so we can say that it's a big beneficiary of these types of accords, if we compare it with others like (the one) it has, for example, with China," Lange said Thursday.

The EU noted this week that it is one of the three biggest markets for Peru's goods and services and the leading foreign investor in the Andean nation.

The 28-nation bloc's foreign direct investment in Peru rose 15 percent between 2013 and 2015 to roughly $12 billion.

Bilateral trade, meanwhile, amounted to approximately $10 billion in 2016, according to the European Commission's Third Annual Report on the Implementation of the EU-Colombia/Peru Trade Agreement.

After meeting with Peruvian Foreign Minister Cayetana Aljovin, Lange said Thursday that some pending matters must be resolved in implementing the accord, "such as certifying certain rules."

"But in terms of trade, we can say that things are going quite well," he added.

"It's clear that trade also has to benefit citizens, and that's why International Labor Organization rules must be complied with," Lange said.

"They must be followed so citizens have their share of the benefits of this treaty, and of course so fair competition isn't undermined."

He also stressed "the need for informal work to become formal work" and called for reviewing "the issue of temporary workers," reinforcing collective bargaining and "increasing labor inspections."

"We believe trade must go hand-in-hand with an authentic debate with civil society, unions and companies, precisely so they also play an advisory role in implementing" the agreement, he said.

Lange also said the EU-Colombia/Peru trade deal "helps Peru draw closer to" the Organisation for Economic Co-operation and Development (OECD); Lima has its sights on becoming a full member of that inter-governmental forum in 2021, when the Andean nation celebrates its independence bicentennial.

The OECD "clearly demands a series of structural procedures and measures in terms of labor rights and worker representation," the MEP said, adding that those points are included in the EU's trade accord with Peru and Colombia.

"I think a very important link may exist between free-trade agreements and accession to the OECD," Lange concluded.

The INTA delegation, which visited Colombia between Monday and Wednesday and began its two-day official visit to Peru on Thursday, also is made up of Poland's Adam Szejnfeld, the United Kingdom's David Campbell, Spaniards Inmaculada Rodriguez-PiƱero and Ramon Jauregui and Germany's Nadja Hirsch and Helmut Scholz.

The EU's ambassador to Peru, Diego Mellado, said Wednesday that the visit to Peru would serve to strengthen financial, economic and trade relations between the European bloc and the South American country.

News history
Young people lead global climate strike, demand immediate action

Katowice (Poland), Dec 14 (efe-epa).- Young people on Friday participated in a global Climate Strike rallied by a 15-year-old Swedish girl who has shot to...

UK's May says further Brexit discussions with EU still possible

Brussels, Dec 14 (efe-epa).- The United Kingdom's prime minister on Friday said it was still possible to get further clarification on the Brexit deal in a...

Former UK PM urges gov't, EU to prepare for second referendum possibility

London, Dec 14 (efe-epa).- A former prime minister of the United Kingdom on Friday called on the British government and the European Union to prepare for...

UK's Labour urges PM May to bring Brexit vote to parliament before Christmas

London, Dec 14 (efe-epa).- The United Kingdom's main opposition on Friday called on the country's prime minister to put her Brexit plan to a parliamentary...

UK May doubtful of immediate breakthrough on Irish backstop in Brexit plan

Brussels, Dec 13 (efe-epa).- The British prime minister said she did not expect to find an immediate solution on the Irish backstop in her Brexit deal...

EU leaders gather for Brexit summit as May seeks concessions

Brussels, Dec 13 (efe-epa).- Leaders from the European Union's 28 member states gathered in Brussels Thursday for a European Council summit where they were...

Dutch gov't face appeal by feminist groups over access to morning after pill

The Hague, Dec 13 (efe-epa).- Women's rights advocacy groups on Thursday launched an appeal against the Dutch government in a bid to make it easier for...

EU, Italy working constructively on Italian budget, still needs adjustments

Paris, Dec 13 (efe-epa).- The European economics commissioner on Thursday said the European Union and Italy were working constructively but the new Italian...

European banks' shares up after Italy budget revision

Madrid, Dec 13 (efe-epa).- European banking shares gained after Italian Prime Minister Giuseppe Conte presented a revised budget to avoid punitive measures...

British Prime Minister Theresa May wins Confidence Vote

London, Dec 13 (efe-epa).- The British prime minister was on Thursday to plow on with her Brexit plan after surviving a motion of no confidence lodged...

Metro earnings rose in FY18 though sales edged lower

Madrid, Dec. 13 (efe-epa).- Metro said Thursday that its profit rose in the 2018 fiscal year despite a slight drop in overall sales, which were hit by...

Shanghai Stock Exchange close 1.23 percent up

Shanghai, China, Dec 13 (efe-epa).- The Shanghai Stock Exchange on Thursday gained 31.9 points, or 1.23 percent, to end at 2,634.05.

Head of EU parliament: France shooting was an attack on peace, democracy

Strasbourg (France), Dec 12 (efe-epa).- The president of the European Parliament on Wednesday condemned the attack on a Christmas market in the eastern...

Spanish PM rules out renegotiation over Brexit deal, Gibraltar

Madrid, Dec 12 (EFE).- The Spanish prime minister on Wednesday ruled out any room for renegotiating the terms of United Kingdom's draft plan for leaving the...

EU approves Thales's takeover of Gemalto with conditions

Brussels, Dec 11 (efe-epa).- European Union antitrust authorities on Tuesday conditionally approved French aerospace-and-defense group Thales' proposed 4.8...

Luxembourg mulls free public transport initiative for 2020

Luxembourg, Dec 11 (efe-epa).- Luxembourg is committed to becoming the world's first nation to provide free public transportation for all, as documented by...

EU lawmakers back limits to carcinogens, diesel fumes in workspace

Brussels, Dec 11 (efe-epa).- European lawmakers on Tuesday backed a policy that would see workers protected from carcinogens, including diesel fumes, by...

UK PM May to put Brexit deal to parliamentary vote before Jan. 21

London, Dec 11 (efe-epa).- The United Kingdom's prime minister is to put her Brexit deal to a vote in the lower house of Parliament before Jan. 21, a...

Scotland first minister heaps pressure on UK Labour to oust May government

Edinburgh (United Kingdom), Dec 11 (efe-epa).- Scotland's first minister and leader of the anti-Brexit and pro-independence Scottish National Party on...

Across Europe, a political landscape defined by deep divisions

Madrid, Dec 11 (efe-epa).- The United Kingdom government's pratfalls over Brexit show one thing still unites London with the continent: the growing...

EU Court rejects German challenge to ECB's bond-buying program

Madrid, Dec 11 (efe-epa).- The European Union's top court rejected a German legal challenge to the European Central Bank's giant bond-buying program on...

British PM meets Dutch counterpart in a bid to save draft Brexit deal

The Hague, Dec 11 (efe-epa).- The British prime minister met with her Dutch counterpart Tuesday as part of a series of impromptu meetings with European...

EU's Juncker: no renegotiation on Brexit, clarification can be offered

Strasbourg (France), Dec 11 (efe-epa).- The withdrawal deal on Brexit is final and will not be renegotiated but further clarification can be offered to the...

UK's main industry group slams Brexit vote delay, warns of national crisis

London, Dec 10 (efe-epa).- The United Kingdom's biggest business organization on Monday harshly criticized the government's decision to postpone a crucial...

I agree Welcome to news4europe.eu. We use cookies to improve your online experience. Find out more.