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Andean Countries–United Kingdom Trade Agreement

Andean Countries–United Kingdom Trade Agreement
Trade Agreement between the United Kingdom of Great Britain and Northern Ireland, of the one part, and the Republic of Colombia, the Republic of Ecuador and the Republic of Peru, of the other part
  Andean Countries
  United Kingdom
TypeFree Trade Agreement and Economic Integration Agreement
ContextTrade Continuity Agreement between the Andean Countries and the United Kingdom
Signed15 May 2019
LocationQuito, Ecuador
Effective1 January 2021
Negotiators
  • Laura Valdivieso
  • Pablo José Campana Sáenz
  • Edgar Manuel Vásquez Vela
  • Katherine Ward
Parties
DepositaryGovernment of the United Kingdom
Languages

The Andean Countries–United Kingdom Trade Agreement is a free trade agreement between the United Kingdom and the Andean Countries—Colombia, Ecuador, and Peru. The agreement is a Trade Continuity Agreement that governs trade and broader cooperation between the Andean Countries and the United Kingdom following the UK's withdrawal from the European Union.[1][2]

History

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From 11 November 2016 until 30 December 2020, trade between Ecuador and the UK was governed by the Colombia, Ecuador and Peru–European Union Trade Agreement, while the United Kingdom was a member of the European Union.[3]

Following the withdrawal of the United Kingdom from the European Union, the United Kingdom and Colombia, Ecuador, and Peru signed the Andean Countries–United Kingdom Trade Agreement on 15 May 2019. The Andean Countries–United Kingdom Trade Agreement is a continuity trade agreement, based on the EU free trade agreement, which entered into force on 1 January 2021.[4][5] Trade value between the Andean countries states and the United Kingdom was worth £5,815 million in 2022.[6]

Colombia

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Colombia was not able to ratify the free trade agreement by 1 January 2021 and could not provisionally apply the agreement. Through the exchange of diplomatic notes the United Kingdom and Colombia agreed to a bridging mechanism arrangement, which was signed on 18 October 2019, allowing the two countries to continue to trading on preferential terms until Colombia could complete its domestic procedures to fully ratify the agreement.[7] Colombia ratified the agreement on 21 April 2022 and the UK-Andean countries free trade agreement entered into force on 28 June 2022 for Colombia.[8]

See also

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References

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  1. ^ Department for International Trade; Hollingbery, George (15 May 2019). "UK signs trade continuity agreement with Colombia, Ecuador and Peru". GOV.UK. Archived from the original on 15 May 2019. Retrieved 26 November 2023.
  2. ^ Taj, Mitra (15 May 2019). "Peru, Ecuador and Colombia sign trade deal with UK ahead of Brexit". Reuters. Lima. Archived from the original on 15 May 2019. Retrieved 26 November 2023.
  3. ^ "EU - Colombia, Ecuador and Peru". World Trade Organization. Archived from the original on 20 June 2025. Retrieved 3 July 2025.
  4. ^ Department for International Trade; Hollingbery, George (15 May 2019). "UK signs trade continuity agreement with Colombia, Ecuador and Peru". GOV.UK. Archived from the original on 15 May 2019. Retrieved 26 November 2023.
  5. ^ Taj, Mitra (15 May 2019). "Peru, Ecuador and Colombia sign trade deal with UK ahead of Brexit". Reuters. Lima. Archived from the original on 15 May 2019. Retrieved 26 November 2023.
  6. ^ Department for International Trade (3 November 2022). "UK trade agreements in effect". GOV.UK. Archived from the original on 17 January 2024. Retrieved 9 February 2024.
  7. ^ "United Kingdom - Colombia". World Trade Organization. Retrieved 8 February 2024.
  8. ^ "Joint Statement on UK-Colombia trade dialogue". GOV.UK. 19 May 2022. Retrieved 8 February 2024.