European Union trade ministers approved a free trade deal with Colombia and Perú on tuesday that will put the 27 nation bloc on the same trade footing as the United States.
A statement said the ministers approved the signature and provisional application of an agreement first initialled in march 2.011 "to eliminate high tariffs, tackle technical barriers to trade, liberalise services markets, protect EU geographical indications and open up public procurement markets."
The deal includes commitments on the enforcement of labour and environmental standards, as well as rapid dispute settlement procedures.
"It will ensure a level playing field with competitors in the region such as the United States," the statement said.
Based on regional integration, the accord remains open for signature by Bolivia and Ecuador, the other two members of the andean community bloc.
Negotiations on a region to region association agreement with the Andean community, including political dialogue, cooperation and trade, were suspended in 2.008 due to disagreements between the andean nations over some trade issues.
Talks started up again in January 2.009 with individual nations.
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