Peru trade agreement starts early
Source: Xinhua |
January 6, 2010, Wednesday
|
Print Edition
Print Edition
THE Peru-China Free Trade Agreement will come into force on January 15, earlier than planned, after Peru accelerated the ratification process.
"Initially we had estimated that the free trade agreement would be effective from the first of February," Peruvian Minister of Foreign Trade and Tourism Mercedez Araoz said.
Peru ratified the accord through a supreme decree signed by President Alan Garcia and Foreign Minister Jose Antonio Garcia Belaunde.
"I have talked with the foreign minister. The protocol between China and Peru to propose the date of application of the FTA will be realized this week," Garcia said.
The president said he hoped the FTA would deliver an additional US$800 million worth of exports and imports in trade with China in its first year.
China is Peru's second-largest trading partner, with two-way trade in 2008 reaching US$7.5 billion.
"Initially we had estimated that the free trade agreement would be effective from the first of February," Peruvian Minister of Foreign Trade and Tourism Mercedez Araoz said.
Peru ratified the accord through a supreme decree signed by President Alan Garcia and Foreign Minister Jose Antonio Garcia Belaunde.
"I have talked with the foreign minister. The protocol between China and Peru to propose the date of application of the FTA will be realized this week," Garcia said.
The president said he hoped the FTA would deliver an additional US$800 million worth of exports and imports in trade with China in its first year.
China is Peru's second-largest trading partner, with two-way trade in 2008 reaching US$7.5 billion.
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