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Australia and Peru complete negotiations for a free trade agreement

The governments of Australia and Peru have completed negotiations for a free trade agreement, announced today in the framework of the summit of the Asia Pacific Economic Cooperation Forum (APEC) held in Vietnam.

Danang (Vietnam), Nov 10 (EFE) .- The governments of Australia and Peru have completed negotiations for a free trade agreement, announced today in the framework of the Forum summit. Asia Pacific Economic Cooperation (APEC) held in Vietnam.

Peru's President Pedro Pablo Kuczynski and Australian Prime Minister Malcolm Turnbull signed on agreement that concludes the negotiations in Danang, a port city in central Vietnam where the summit is being held.

"Australia and Peru have completed a free trade agreement that will create exports, income and jobs, "said Turnbull, according to an official statement that does not say when it will come into force.

With this agreement, some negotiations that have lasted seven years and that will allow Peru and Australia to increase the commercial exchange that, despite a growth of 57 percent in 2016, only represents 0.5 percent percent of Peruvian exports.

The trade volume between both countries was 363 million dollars (312 million euros) in 2016.

The free trade agreement will eliminate the 99 percent of the tariffs that Peru imposes on Australian imports, while Peruvian products will have greater access to the Australian consumer.

Exporters Peruvians in coffee, cotton t-shirts, fresh grapes, avocados, hake fillets, blueberries, marble, sawn wood has in Australia a market with a potential trade of 830 million dollars (713 million euros), according to the Chamber of Commerce of Lima.

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