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Peru, China complete 2nd FTA upgrading negotiation round

17:06 | Lima, jun. 21.

The second round of negotiations aimed at upgrading the Peru-China Free Trade Agreement has concluded, Foreign Trade and Tourism Minister Edgar Vasquez affirmed on Friday.

The gathering took place in Lima on June 17-19.

During this round, diverse meetings took place in order to optimize the chapters on rules of origin; customs procedures and trade facilitation; services trade; investment and intellectual property.

Competition policy and e-commerce

On the other hand, they talked about expanding the contents of the FTA to include chapters on competition policy and e-commerce.

"Besides, nearly 10 years have passed since we signed this agreement. For that reason, we hope to upgrade it and achieve an innovative content (…)," Minister Vasquez expressed.

"(…) which not only benefits exports, but also attracts investments into the country's key sectors such as technology, logistics, and transport," he added.

It should be noted officials from 15 public institutions —such as the Ministries of Foreign Affairs, Economy and Finance, Transport-Communications, as well as SUNAT— participated in this round, led by the Foreign Trade and Tourism Ministry (Mincetur).

Likewise, the official revealed the next gathering is expected to take place in the Asian Giant's capital city of Beijing in the first half of August.

China

As is known, the Peru-China FTA was signed on April 28, 2009, in Beijing and came into force on March 1, 2010.

In addition, since 2014, China has been the main trade partner of Peru.

(END) RGP/DTK/MVB

Published: 6/21/2019

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Peru, China complete 2nd FTA upgrading negotiation round

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