The China–Peru Free Trade Agreement ( es, Tratado de Libre Comercio Perú – China) is a bilateral

free trade agreement A free-trade agreement (FTA) or treaty is an agreement according to international law to form a free-trade area between the cooperating states. There are two types of trade agreements: bilateral and multilateral. Bilateral trade agreements occ ...

designed to eliminate obstacles to trade and investment between China and

Peru , image_flag = Flag of Peru.svg , image_coat = Escudo nacional del Perú.svg , other_symbol = Great Seal of the State , other_symbol_type = National seal , national_motto = "Firm and Happy f ...

. The two sides concluded talks in November 2008 and signed the agreement in April 2009. The agreement was officially ratified by both countries governments on December 6, 2009, and came into effect on March 1, 2010. The idea of such a trade agreement was first formally proposed by the Peruvian Minister of Trade, Mercedes Aráoz, to her Chinese counterpart,

Bo Xilai Bo Xilai (; born 3 July 1949) is a Chinese former politician who was convicted on bribery and embezzlement charges. He came to prominence through his tenures as Mayor of Dalian and then the governor of Liaoning. From 2004 to November 2007, ...

, on November 18, 2006, during the 2006

APEC The Asia-Pacific Economic Cooperation (APEC ) is an inter-governmental forum for 21 member economies in the Pacific Rim that promotes free trade throughout the Asia-Pacific region.

summit. Ministerio de Comercio Exterior y Turismo
''Antecedentes de la negociación''
. Retrieved on April 28, 2008. In February 2007, both ministers agreed to the realization of a

feasibility study A feasibility study is an assessment of the practicality of a project or system. A feasibility study aims to objectively and rationally uncover the strengths and weaknesses of an existing business or proposed venture, opportunities and threats pr ...

, which was successfully completed six months later. On September 7, 2007, during the 2007 APEC summit, the presidents of China, Hu Jintao, and Peru,

Alan García Alan Gabriel Ludwig García Pérez (; 23 May 1949 – 17 April 2019) was a Peruvian politician who served as President of Peru for two non-consecutive terms from 1985 to 1990 and from 2006 to 2011. He was the second leader of the Peruvian Apris ...

announced the formal start of negotiations. The first round of negotiations was carried out in

Lima Lima ( ; ), originally founded as Ciudad de Los Reyes (City of The Kings) is the capital and the largest city of Peru. It is located in the valleys of the Chillón, Rímac and Lurín Rivers, in the desert zone of the central coastal part of ...

between January 20 and January 23, 2008; the second round took place in

Beijing } Beijing ( ; ; ), alternatively romanized as Peking ( ), is the capital of the People's Republic of China. It is the center of power and development of the country. Beijing is the world's most populous national capital city, with over 21 ...

between March 3 and March 7 of the same year. The third round was carried out in May, also in Beijing. On November 19, 2008, President Alan Garcia announced that both sides have concluded trade pact talks and that the deal would be signed in the coming months.https://www.google.com/hostednews/ap/article/ALeqM5i1DO1BGUpLG_UHYPdicPw6jqYbAgD94ICS380 China is the second most important trade partner for Peru; as of 2006, it accounted for 9.6% of Peruvian exports and 10.3% of Peruvian imports for a trade volume of $US5.5 billion in 2007 On the other hand, Chinese investments are still small; as of 2006 companies headquartered in the People's Republic of China accounted for only 1.5% of foreign direct investment in Peru. ProInversión
''Inversión Extranjera''
Retrieved on April 28, 2008. Under the agreement, 10 percent of Peruvian products such as textiles, clothing and shoes were excluded from the deal, while only 1 percent of Chinese products — wood and tobacco — were left out, said Eduardo Ferreyros, Peruvian foreign trade vice minister. The proposed China — Peru trade agreement has drawn criticism in Peru from some economic sectors that feel threatened by Chinese competition; this is the case of the textile industry which claims that the low wages paid by their Chinese counterparts represent an unfair advantage. La República
''“Industria textil y confecciones quebrarían por TLC con China"''
. January 22, 2008. Retrieved on April 28, 2008. As an alternative, these sectors have proposed the exclusion of products such as textiles from the agreement or long periods to phase out tariffs on them.

Bibliography

References

External links

China's Free Trade Agreements > China-Peru FTA
- Ministry of Commerce, People's Republic of China *
Tratado de Libre Comercio Perú - China
Peruvian Government site on the agreement. {{DEFAULTSORT:China-Peru Free Trade Agreement Foreign trade of Peru Trade blocs Free trade agreements of China Treaties concluded in 2008 Treaties of Peru Treaties entered into force in 2010 Treaties of the People's Republic of China 2010 in economics

See also

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References

External links