Peruvian exports to resume growth path in 2020

12:34 | Lima, Feb. 13.

Foreign Trade and Tourism Minister Edgar Vasquez on Thursday projected that Peruvian exports will reach US$48 billion this year and US$50 billion in 2021.

Likewise, the government official commented that this year's progress may be underpinned by higher international prices of non-traditional products and the discovery of new target markets.

Vasquez indicated that this projection takes into account the possible effects of Coronavirus, although in a conservative scenario.

In 2019, Peruvian exports totaled $47.688 billion —an amount lower than the figure verified in 2018— according to the Central Reserve Bank (BCR).

CPTPP

Regarding the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), Vasquez said the expectation is that it will be ratified by the Congress of the Republic in the first half of the current year.

He expressed hope for the new Congress members to take up duties "so that both the agreement with the United Kingdom and the CPTPP are able to pass the corresponding procedures in order to be ratified."

Australia

For its part, the

Peru-Australia Free Trade Agreement (PAFTA) came into force on February 11, 2020.

The FTA was signed on February 12, 2018, in Canberra (Australia) and

ratified by the Peruvian side on February 22, 2019.

It established that 96% of Peruvian products would enter the Australian market tariff-free from the first day in force, whereas the remaining 4% would do so in a gradual process over a maximum period of four years.

(END) SDD/JJN/MVB

Published: 2/13/2020

Video más visto