announced on Monday that Peru and Thailand have reached a substantial conclusion in negotiations for a Comprehensive Trade Agreement, bringing the South American country closer to finalizing this new free trade agreement.
"Thailand is a market with significant potential to further expand the presence of Peruvian products, as it represents more than 70 million potential consumers," Foreign Trade and Tourism Minister Teresa Mera stated.
"Thanks to this Comprehensive Free Trade Agreement (FTA), we are also broadening our commitments in areas such as trade in services, cooperation, and trade facilitation," she underscored.
The government official explained that the substantial conclusion of negotiations means both countries have reached consensus on the most complex issues, with only minor technical matters still pending—issues that will not prevent the agreement's signing.
Thailand is the second-largest economy in Southeast Asia and the ninth-largest economy in Asia.
Between January and October 2025, Peruvian exports to this market totaled US$92 million, led by growth in shipments of giant squid (120%), blueberries (61%), natural colorants (86%), and copper (22%).
Shipments to this market also include zinc, grapes, avocados, Brazil nuts, and quinoa. For its part, Thailand is the leading supplier of washing machines and canned tuna to Peru.
The trade agreement will cover areas such as market access, rules of origin, legal and institutional matters, customs procedures and trade facilitation, technical barriers to trade, intellectual property, competition, the temporary entry of businesspersons, and trade in services.
The trade relationship between Peru and Thailand is currently based on a protocol in force since 2011—updated in 2023—which is limited exclusively to trade in goods.
In 2013, efforts were made to negotiate a broader Free Trade Agreement (FTA), but they did not come to fruition. Negotiations were resumed in 2025, holding two rounds.
This announcement follows a meeting between Peruvian Minister Mera and her Thai counterpart, Suphajee Suthumpun, held during the Asia-Pacific Economic Cooperation (APEC) Leaders’ Meeting in South Korea last November.
On that occasion, both sides reiterated their willingness to bring the negotiations to a close soon.
