Peru-Australia FTA to take effect in 2nd half of 2018

El ministro australiano de Comercio, Steve Ciobo, y su colega peruano, Eduardo Ferreyros, firmaron en Canberra un tratado de libre comercio. Foto: EFE

13:39 | Lima, Mar. 12.

The Free Trade Agreement (FTA) between Peru and Australia will enter into force in the second half of this year, Peru's Foreign Trade and Tourism Ministry (Mincetur) affirmed on Monday.

"We are working as quickly as possible —both in Peru and Australia— to implement the FTA between the two nations," Peru's Deputy Foreign Trade Minister Edgar Vasquez said.

Peru is working on reports from all sectors —covered by the agreement— for their submission to the Foreign Affairs Ministry in the first half of April.

The Foreign Affairs Ministry must determine whether the deal will be ratified by either the Executive or Legislative Branch.

The deal covers the exchange of goods and services between Peru and Australia.

"The FTA with Australia is even more comprehensive than the FTA with the United States," Vasquez expressed in this sense.

This agreement is expected to not only deepen the trade of goods, but also increase the commercial exchange of services, an area which relies on great potential.

Later, the government official said he expects the arrival of more Australian investments in Peru.

Remarks were made at the "Peru-Australia Free Trade Agreement Opportunities" event.

(END) MMG/JJN/RMB/MVB

Published: 3/12/2018

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Peru-Australia FTA to take effect in 2nd half of 2018

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