The
Ministry of Foreign Trade and Tourism (Mincetur) on Monday said that Peru and Thailand have updated their trade agreement within the framework of the
Asia-Pacific Economic Cooperation (APEC) Ministers Responsible for Trade (MRT) meeting.
According to the government department, this update will facilitate bilateral trade through the improvement in commitments related to the rules of origin.
As is known, both countries negotiated commitments related to trade in goods between 2004 and 2010, which resulted in the "Protocol between the Republic of Peru and the Kingdom of Thailand to Accelerate the Liberalization of Trade in Goods and Trade Facilitation," as well as three Additional Protocols, which have been in force since December 31, 2011.
This protocol has contributed to making Asia a key destination region for Peruvian exports, cementing the position of Peru in the Asian market, mainly due to the rise in trade.
In this regard, Gervasi explained that the Fourth Protocol mainly updates the provisions on rules of origin, highlighting the authorization of the use of Certificates of Origin with scanned or digital signatures, thus facilitating trade operators to benefit from the aforementioned trade agreement.
Said Protocol will enter into force in the coming months, once Thailand and Peru complete their internal ratification procedures.
Importance of the agreement
Since the entry into force of the "Protocol between the Republic of Peru and the Kingdom of Thailand to Accelerate the Liberalization of Trade in Goods and Trade Facilitation" and its Additional Protocols in December 2011, Peru has endeavored to ensure that its main export products and those with export potential to the Thai market can benefit from preferential access to Thailand.
Thus, a wide range of Peruvian (agricultural, fishery, industrial) products have been able to enter such market in better conditions.
(END) NDP/JJN/RMB
Published: 5/23/2022