Peru China Trade Agreement

By October 1, 2021 Uncategorized No Comments

For China, Peru is an important source of minerals, especially copper. For Peru, growing trade with China is an important way to diversify exports to a dynamic demand zone. Promising times are certainly to come, with Peru`s participation in the World Economic Forum (WEF) as a sign that the regions are striving to become a global economic power. At the WEF, Mercedes Araoz, Vice President of Pero, announced that Peru was ready to become a regional shopping center. In addition, strengthening trade relations with China – an important trading partner – will create new investment opportunities in a wide range of sectors. Liberalization programme. Since taking office in July 2006, President Alan Garcia has been aggressively pursuing a series of trade agreements with important trading partners in his trade policy: the Garcia government is convinced that bilateral trade liberalization agreements offer not only the opportunity to increase Peru`s export capacity and diversify its foreign markets, but also to make foreign investments. Garcia has made attracting foreign direct investment (FDI) the cornerstone of his government`s long-term economic strategy, despite opposition from a number of sometimes vocal groups. Negotiations for a free trade agreement between Peru and China began on 23 January 2008. On 19 November 2008, Peru and China concluded negotiations on a free trade agreement after six rounds of negotiations. In addition, negotiations on a customs cooperation agreement and a memorandum of understanding on cooperation in the field of labour and social security have been concluded. Peru is trying to negotiate a free trade agreement with the EU, as well as with Colombia and Ecuador.

This has led to difficulties with Bolivia, which is adopting a more cautious attitude towards trade liberalization. The EU has agreed to negotiate with some countries rather than with the Andean Community as a whole. On November 17, 2018, Peru and China signed a memorandum in which they agreed to open negotiations to optimize their free trade agreement. In April 2019, Peru and China will launch a series of bilateral meetings aimed at optimizing their free trade agreement. On April 4, 2019, Peru and China held the first round of negotiations in Beijing to optimize their free trade agreement. The second round of negotiations was held in Lima, Peru, from 17 to 19 June 2019. The third round of negotiations on optimizing the agreement ended on August 17, 2019 in Beijing, China. The fourth round of negotiations was held in Lima, Peru, and concluded on 6 October 2019. Peru has also had discussions on trade with Britain, whose government wants to strengthen its trade relations with the rest of the world after leaving the European Union. .

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