reported that Peru and Thailand achieved substantial progress in the second round of negotiations to reach a comprehensive Free Trade Agreement (FTA), which will deepen the scope of the partial agreement in effect since 2011.
The
negotiations took place in Bangkok, Thailand, from August 13 to 16, with the participation of a Mincetur delegation.
These took part in the working groups on Market Access, Rules of Origin and Origin Procedures, Customs Procedures and Trade Facilitation, and Legal and Institutional Matters.
Meanwhile, the working groups on Trade in Services and Technical Barriers to Trade met virtually.
This new FTA aims to go beyond trade in goods, incorporating commitments in trade in services, intellectual property, and the temporary entry of individuals, which will allow for a comprehensive strengthening of the commercial relationship with this Asian market.
It is worth highlighting that commerce between both countries is based on the Peru-Thailand Protocol and four additional protocols, of which the first three have been in force since 2011 and the fourth since 2023.
In 2024, Peruvian exports to Thailand reached US$110 million, with key products including zinc, squid, molybdenum, natural colorants, and fruits such as blueberries and grapes.
During the first half of the year, shipments to the Asian country totaled US$47 million, consisting of fishery, agricultural, and mining products.
With a population of over 70 million and a per capita GDP of US$8,000, Thailand represents a strategic and high-potential market for expanding Peru’s presence in Asia.