Since the Free Trade Agreement with Guatemala entered into force this month, Peru has 24 trade agreements in force, so we analyze their impact on the national economy.
The trade integration policy pursued over the past decades is one of the main factors behind the growth of Peru's exports, and the medium- and long-term outlook remains favorable.
"These are trade agreements that are full in force and contribute to the sustained growth of Peru's exports, especially products with higher added value," he indicated.
The official noted that 87% of Peru's exports are covered by these agreements currently in force, according to a report published in the Economika supplement of the Official Gazette El Peruano.
Castillo emphasized that Peru's trade liberalization policy has enabled the South American country to sign trade agreements with economies that account for 82% of global gross domestic product (GDP).
"This creates growth potential that should be harnessed to the fullest extent possible," he underscored.
At a glance
On new trade agreements yet to be signed, Castillo said negotiations with Thailand have already concluded.
"What we currently have with Thailand are protocols in force that partially cover trade in goods. What has been negotiated is a comprehensive FTA, which is now undergoing legal review. We hope it will be signed soon," he explained.
The official noted that negotiations are underway to modernize the agreement with Uruguay.
"Peru and Mercosur currently have Economic Complementation Agreement No. 58 in force, which covers only trade in goods. However, together with Uruguay, we have decided to expand it to also include trade in services, investment, and intellectual property," he indicated.
In this case, Castillo said the negotiation process is well advanced.
Pending ratification
The head of the General Directorate of International Trade Negotiations at the Ministry of Foreign Trade and Tourism (Mincetur) said several agreements that have already been signed are in the pipeline and are currently undergoing the domestic approval process.
"For example, there is the Free Trade Agreement (FTA) with Hong Kong, as well as the agreement to modernize the Free Trade Agreement with China, which has been in force since 2010," he mentioned.
Castillo explained that, in the case of China, the goal is to incorporate chapters that were not included in the original agreement, such as e-commerce, or to expand the agreement's coverage of services.
"The tariff provisions of the Free Trade Agreement with China will remain unchanged, but other provisions will indeed be expanded," Castillo said.
In both cases, the agreements have already been signed and are currently undergoing ratification, he added.
The official said the Government is also gathering the necessary reports to begin the ratification process for the agreement with Indonesia, which has already been signed.
"The agreement with Indonesia has been signed, but we are in the process of gathering all the necessary information to begin the ratification and domestic approval process," he indicated.
CEPA
On July 4, Mincetur concluded the third round of negotiations to reach a Comprehensive Economic Partnership Agreement (CEPA) with the United Arab Emirates (UAE), one of the Middle East's highest-income markets.
This round of negotiations was held virtually and led by the Ministry of Foreign Trade and Tourism's (Mincetur) Directorate for Asia, Oceania, and Africa.
Within this framework, negotiating groups met on market access, rules of origin, customs procedures and trade facilitation, sanitary and phytosanitary measures, technical barriers to trade, trade remedies, investment, services, digital trade, intellectual property, cooperation, and legal and institutional affairs.
Following the conclusion of the third round, both sides are coordinating the next round of negotiations.
The CEPA will help consolidate Peru's trade liberalization policy and add a strategic partner in the Middle East—a region where Peru does not yet have any preferential trade agreements.
The CEPA will also grant preferential tariff treatment for Peru's export products, considering that goods exported to the UAE currently face an average tariff of 4.7%, which can reach as high as 14.5%.
In the agricultural sector, products are subject to an average tariff of 5.4%, which can rise to as much as 25.6%.
As a result, Peruvian exports will be able to compete in the UAE market on equal terms with those from countries such as Chile, Colombia, and Costa Rica.
Positive impact
The Mincetur official highlighted the contribution of Peru's free trade agreements (FTAs) to the growth of the South American country's exports over the past decades.
"Much of the positive performance of Peru's exports is due to the opportunities created by free trade agreements, which have enabled exporters to access markets under preferential tariff treatment," Castillo stressed.
"The negotiation of free trade agreements is the result of a long-standing state policy, which has enabled Peru's exporting companies to diversify, reach more markets, and expand exports," he said.
Castillo emphasized that the benefits of trade agreements are tangible, as they have not only provided opportunities for exports of goods but have also reduced or eliminated barriers to trade in services and protected investments.
"As a result, a wide range of opportunities has been created, particularly at a time like the present, when some markets are adopting protectionist measures. Therefore, our (Peruvian) exporters have alternative markets with preferential tariff treatment, making trade negotiations increasingly important," he underscored.
New agreement
It is worth noting that the Free Trade Agreement with Guatemala entered into force on the first day of this month.
"With this, Peru now has 24 trade agreements in force, expanding the range of opportunities available to our exporters and helping consolidate a framework that will strengthen bilateral trade while creating new business opportunities," he pointed out.
The agreement's entry into force was formalized by Supreme Decree No. 007-2026-Mincetur, published on June 23 in the Official Gazette El Peruano.
He stressed that the entry into force of this FTA will help boost Peru's exports to Guatemala, a market to which the South American country exported US$33 million worth of goods between January and April this year.
Trade between Peru and Guatemala is based primarily on agricultural goods. Peru's main exports include fresh grapes, mandarins, palm oil, natural colorants, and biscuits, among other products.
The entry into force of this FTA will help boost Peru's exports to Guatemala, where shipments totaled US$33 million between January and April 2026.
Peru has an export potential of US$104 million in the Guatemalan market, with the five subsectors expected to benefit the most being fruits (US$16 million), processed or preserved food products (US$12 million), chemicals (US$9.4 million), cotton (US$8.8 million), as well as vegetable residues and animal feed (US$8 million).
Data
- Peru's exports totaled US$45.128 billion between January and May this year, up 36.7% from the same period last year, according to the Ministry of Foreign Trade and Tourism (Mincetur).
- Non-traditional exports alone rose 2.4%, totaling US$8.802 billion during the first five months of this year.
- The Comprehensive Economic Partnership Agreement (CEPA) with the UAE will play a key role in attracting Emirati investment to Peru in sectors such as infrastructure, renewable energy, tourism, and technological innovation.
- Peru's exports to the UAE reached US$2.8854 billion in 2025. Exports were concentrated primarily in gold shipments and agricultural products, including blueberries, quinoa, fresh pomegranates, and mangoes, among others.
- Mincetur highlights the commercial potential of Central American markets for Peru's non-traditional exports, particularly agricultural products.
(END) DOP/SDD/MVB
Publicado: 13/7/2026