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Current Position:Home » News » General News » Topic

Peru seeks to upgrade FTA with China

Zoom in font  Zoom out font Published: 2018-08-30  Views: 9
Core Tip: Peru hopes to modernize its Free Trade Agreement (FTA) with China in order to strengthen their already excellent bilateral relationship and explore new ways of cooperation.
 Peru hopes to modernize its Free Trade Agreement (FTA) with China in order to strengthen their already excellent bilateral relationship and explore new ways of cooperation. This was said in a statement by Peruvian Ambassador to Beijing, Luis Quesada.
 
According to Quesada, Peru's Foreign Trade and Tourism Ministry (Mincetur) is in charge of this process. The Embassy in China currently assists Peruvian and Chinese Ministries' technical teams, in order to arrange their first meeting in Beijing aimed at discussing FTA modernization. 
 
Eight years have passed since the Peru-China FTA came into effect. The treaty was signed on April 28, 2009, in Beijing and came into force on March 1, 2010. Quesada indicated exporters of blueberries, asparagus, grapes, avocados, mangoes, and alpaca fibre, among others, benefit from this agreement.
 
Peru's challenge is to exponentially increase the entry of value-added products in the Chinese market and diversify the offer of processed and high-nutritional-value foods."The rise of the Chinese middle class has opened up a new market niche. They (its members) are focused on a healthy diet and the consumption of high-quality products," the official said.
 
Companies and human capital
Over 170 Chinese companies currently operate in Peru. They can be found in many different sectors. Andina.pe quoted Quesada as saying: "According to numerous projections, China will become the world's largest economy in a few years. Opportunities are increasing here. It is important for more Peruvians to come (here) and see the development process of this country.”
 
 
keywords: FTA trade
 
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