29 Oct 2019
Negotiations to Modernise Peru-China FTA Move Forward
Peru and mainland China held in early October in Lima a fourth round of talks aimed at maximising the benefits of their current bi-lateral free trade agreement. According to Peruvian authorities, this effort will facilitate the activities of Peruvian importers and exporters and create additional opportunities for services companies, especially small- and medium-sized enterprises. Moreover, Peru hopes to attract mainland Chinese investment to key economic sectors such as technology, logistics and transportation.
During the fourth round, trade officials discussed such matters as rules of origin, customs affairs, trade facilitation, global supply chains, intellectual property, investment, competition policies, trade in services and electronic commerce. The two sides wrapped up negotiations on the global supply chain chapter, which is designed to promote a favourable environment for the development of logistics corridors in the different modes of transport. Substantial progress was also reported in the customs procedures and trade facilitation, trade in services and rules of origin chapters.