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Peru, Japan start free trade talks

Published: 25/05/2009 05:00

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Peru and Japan began here Monday the first round of negotiations on the Free Trade Agreements (FTA), Peruvian Minister of Foreign Trade and Tourism Mercedes Araoz said.

This six-day talks mainly included 13 topics, such as market access, financial services, telecommunications, commercial security, patent rights, sanitary and phytosanitary measures.

“To date, Peru has an Agreement of Early Harvest with Thailand and one FTA each with Singapore and China, with another FTA under discussion with South Korea, Japan will be the fifth Asian country,” Araoz said.

Peruvian exports to Japan have grown 235 percent in 2004-2008 period, registering a record 2.18 billion U.S. dollars in 2007.

The current trade balance has been in favor of Peru. Eighty-five percent of the exports to Japan are minerals, and the fishery sector is predominant among the non-traditional exports.

VietNamNet/Xinhuanet

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