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Peru-China Free Trade Agreement to be Signed on March 2009

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China's President Hu Jintao with Peru's President Alan Garcia (Reuters)

China's President Hu Jintao with Peru's President Alan Garcia (Reuters)

As the local newspaper El Comercio reports, Peru and China are expected to finalize and sign a Free Trade Agreement on March 2009, and should become effective the second half of 2009.

This FTA should be the second most important agreement for Peru following the one signed with the U.S. which is already bringing mutual benefits particularly as a way to fight against the current economic crisis.

China and Peru would agree to a goal of zero tariffs on 90 percent of all goods traded between the two countries, including for example electronics, home appliances, machinery, vehicle motors, chemical, vegetables and fruits by China, and fish flour, mining, fruits by Peru.

Click here to read a Wall Street Journal article title “China’s Latin American Tango”.

Additionally, an FTA between Peru and Canada is also in the works and pending approval, as El Comercio also reports.

Written by Catherine Castro

December 21, 2008 at 1:37 am