FTA between Peru and Australia enters into force

The Free Trade Agreement (FTA) between Peru and Australia entered into force today expanding trade opportunities for the Andean country, said Peru's Minister of Foreign Trade and Tourism, Edgar Vásquez.

The official said, in a statement, that this trade agreement will bring new opportunities to expand foreign trade, and contributes to Peru's aspirations to position itself in international markets.

"This FTA expands the network of trade agreements that our country has, which generates greater opportunities for foreign trade," he said.

Vásquez specified that "in this way, 96% of our exports with Australia will be free of tariffs."

"Among the products that will benefit the most are avocados (avocados), fresh grapes, blueberries, tangerines, cotton t-shirts, shirts, frozen shrimp and prawns, cuttlefish," he noted.

According to the previous negotiations, which both countries completed, the remaining 4% of Peruvian exports will be able to enter gradually until 2024.

Meanwhile, he explained that in education and services, the FTA contemplates agreements so that both nations can work together in the recognition of titles and in facilitating the movement of professionals between both parties.

According to the Ministry of Foreign Trade, in 2018 Peruvian exports to Australia totaled $ 211 million, while imports of Australian products totaled $ 116 million.

Among the main Peruvian exports to the Australian market are fishery, agricultural and mineral products, while Australia sells sodium cyanide and various capital goods to Peru.

Peru currently has 20 free trade agreements covering some 50 countries, as some of them were signed with regional blocs, such as the European Union.


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