Peru and the EU develop their political relations under the 2003 Political Dialogue and Cooperation Agreement, and their trade relations are defined in the Trade Agreement signed in 2012, which opened their markets into a free trade area.
Relations between Peru and the European Union (EU) are developed under the 2003 Political Dialogue and Cooperation Agreement, which establishes relations between the EU and the Andean Community (CAN), composed of Bolivia, Peru, Ecuador and Colombia.
The agreement has helped strengthen political ties and has expanded the scope of cooperation into areas such as human rights, conflict prevention, migration, the fight against drugs, terrorism and, especially, the regional integration process of the CAN.
Also, in recent years, the EU and Peru have promoted links on a bilateral level because of their shared ambition to strengthen and expand their political relations. One example of this is the EU electoral observation mission (EOM) to observe the first and second round of the 2016 presidential elections, after an invitation from the Peruvian government and the electoral authorities. The EOM issued a final report that was supplied to the electoral authorities and to members-elect of Congress and of the Andean Parliament.