China-Peru FTA Postponed
Economy April 12th, 2010
“The treaty will not apply because the January 15 as previously planned because the government of China’s internal work,” he said in a television broadcast without mentioning the reason lain.Menlu Jose Garcia Belaunde said that it will be announced soon.
Last week the Peruvian Trade Minister Martin Perez said that the agreement, signed in April and ratified last month, will be effective January 15, 2010, two weeks earlier than scheduled.
The deal will bring major changes to the tariffs of more than 90 percent of goods from China electronic products to the machine until the minerals and fish products Peru, Xinhua news agency writes.
Based on this agreement, the two countries also pledged to further open service sector and give them a good service to investors.
China has become the largest trading partner to two of the mineral-rich Peru after the United States.
While Peru is one of the producers of copper, tin and gold.
The bilateral trade value to the two countries reached about 6.46 billion U.S. dollars in the first 10 months of last year, according to figures published by the Ministry of Commerce of China.
