Peru and Australia Sign Free Trade Agreement
Australia confirmed on Wednesday the signing of a free trade agreement with Peru during the summit of the Asia-Pacific Economic Forum (APEC) to be held from Wednesday in Vietnam, as commerce between the two countries continue to grow.
“At APEC, I hope to conclude the Australia-Peru free trade agreement, which will create opportunities for Australian exporters and send an important message to the world, that Australia adopts free trade,” Australian Trade Minister Steven Ciobo said in a statement.
On Monday, Peruvian President Pedro Pablo Kuczynski, participating in the Da Nang summit, announced the agreement, “discussed and negotiated in recent months” and “ready to be signed.”
Peru concluded a total of 21 free trade agreements with China, the United States, Japan and the European Union.
In 2016, trade between both countries grew by 57%, although it still represents less than 0.5% of Peruvian exports. Peru looks to continue trading with Australia while developing strong relationships with other major countries in the region and beyond.