We will now give an overview of the current trade agreements and organizations in which Peru is participating today. The most recent is the Australia-Peru Free Trade Agreement, which has opened up even more opportunities for the country. The latest information on this new agreement can be found in the Biz Latin Hub. We will look at the largest trade agreement, the WTO (World Trade Organization), and then look at the small unilateral trade agreements that Peru has. The agreement provides tariff concessions for processed agricultural products (Chapter 3 and Appendix III). Tariff concessions for agricultural commodities are covered by bilateral agricultural agreements, which are part of the instruments for creating a free trade area between the contracting parties. If you have any questions or comments on this free trade agreement or on environmental and labour cooperation agreements, we would like to hear from you. Please contact Global Affairs Canada at: The free trade agreement covers a wide range of areas, including trade (industrial and agricultural products), investment, intellectual property rights, public procurement and competition. The agreement provides for negotiations on a chapter on services.
The peru-South Korea Free Trade Agreement came into force in 2011. South Korea is the third Asian country to sign a free trade agreement with Peru. This free trade agreement has a 10-year validity period and its main objective is trade: to make trade tax-free in order to stimulate trade in goods and services. This agreement gave Peru access to a huge market for fresh agricultural products. This external agreement came into force in 2009. It covers 100% of the products traded between Singapore and Peru. This free trade agreement facilitates food trade, as it has improved the previously ambiguous transparency regarding the quality of health and plant health hygiene. With regard to the creation of a business, Peru and Singapore agreed to ensure that the other party`s companies were able to compete on an equal footing with domestic suppliers for government orders above certain thresholds. Bilateral agreements on agricultural products between three EFTA states and Peru have been concluded in parallel and are part of the instruments for setting up the free trade area between the two sides. The agreement contains provisions on subsidies and anti-dumping measures affecting trade relations between the parties, as well as disciplines on comprehensive and bilateral safeguards.
The European Union is a crucial market that Peru must have access to. A free trade agreement was signed in 2013, allowing Peru direct access to more than 490 million consumers, as the EU itself grants free trade between member states.