Andina

Peru, China get together to upgrade FTA

Photo: EFE

Photo: EFE

11:03 | Beijing (China), Aug. 28.

Peru and China are working to upgrade their Free Trade Agreement (FTA) to enhance trade ties and defend the multilateral trading system amid protectionist signs, according to Peruvian Foreign Affairs Minister Nestor Popolizio.

Popolizio's remarks were made Tuesday on the occasion of his first official visit to the Asian Giant.

"Both countries have reiterated their defense of free trade and the need to strengthen multilateralism," the minister said at a press conference in Beijing while discussing the outcome of his visit.

As stated by the diplomat, "95% of Peru's exportable supply is protected by free trade agreements with its main trading partners, so it is unthinkable to see protectionist winds blowing around the world."

In this sense, both Popolizio and his Chinese counterpart Wang Yi pledged to upgrade the Peru-China FTA.

This upgrade is intended to ease the path for Peruvian agro-exports into the Chinese market, as well as include small and medium-sized enterprises so that they can benefit from this deal.

It must be noted a Peruvian delegation will head to China in the second half of 2018 to delineate these aspects and move forward in this matter.

Popolizio also met with the National Development and Reform Commission of the People's Republic of China (NDRC) to address cooperation and investment proposals in key sectors of the economy.

(END) VVS/RMB/MVB

Published: 8/28/2018
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