Home / Knowledge / News / China-Peru sign Free Trade Agreement
China-Peru sign Free Trade Agreement
11
May '09
Witnessed by Chinese Vice-President Xi Jinping and Peruvian Vice-President Luis Giampietri Rojas, Yi Xiaozhun, Deputy Minister of Commerce, and Mercedes Araoz Fernandez, Peruvian Minister of Trade and Tourism, signed, on behalf of their own government, China-Peru Free Trade Agreement (FTA) in the Great Hall of the People on April 28. China-Peru FTA, the first package FTA China signed with a country in Latin American, is a new landmark in bilateral ties.

The China-Peru FTA features wide coverage and high degree of openness. Over 90 percent of goods trade between China and Peru will enjoy zero tariff on a stage-by-stage basis. Goods trade covers China's products from light industry, electronics, home appliances, machinery, automobile, chemicals, vegetables and fruits, and Peru's fish powder, minerals, fruits and fish products. In service trade, both countries pledge to further open up their service sectors based on their respective commitments to WTO.

In terms of investment, each side will give Post-Establishment National Treatment, MFN and Fair and Equitable Treatment to investors from the other side, and encourage and provide facilitation to investment The two countries also reached agreements on such issues as intellectual property, trade relief, rules of origin, customs procedures, TBT and SPS, etc.

China and Peru commenced FTA negotiations on September 7th, 2007, when Chinese President Hu Jintao and Peruvian President Garcia attended APEC informal leadership meeting in Sydney, and announced jointly to commence the negotiation. 8 rounds of negotiation and one Working Group meeting were held, before November 19th, 2008 when President Hu Jintao was on a state visit to Peru and announced jointly with Peruvian President Garcia that China - Peru FTA negotiations was concluded successfully. China and Peru are strongly complementary in economy, and bilateral relations are developing rapidly in recent years.

At present, China is Peru's second largest trading partner, while Peru is China's seventh largest trading partner in Latin America.According to statistics from Chinese customs, bilateral trade in 2008 reached USD7.5 billion, up 24% compared with the previous year, among which China's exports are USD2.8 billion and imports are USD4.7 billion.

Up to date, China has signed FTA with ASEAN, Chile, Pakistan, New Zealand, Singapore and Peru, and is negotiating FTA with Australia, the Gulf Cooperation Council (including six countries of Saudi Arabia, Kuwait, UAE, Oman, Qatar and Bahrain), Iceland, Norway, Costa Rica and the Southern African Customs Union.

Ministry of Commerce The Poeple's Republic of China


Must ReadView All

Pakistan govt notifies 50% duty drawback on exports

Textiles | On 21st Oct 2017

Pakistan govt notifies 50% duty drawback on exports

The Pakistan government has notified the ‘Duty Drawback of Taxes...

Ghana sets up task force to clamp down on textile piracy

Textiles | On 21st Oct 2017

Ghana sets up task force to clamp down on textile piracy

Ghana’s ministry of trade and industry has set up a taskforce to...

Courtesy: Coach

Fashion | On 21st Oct 2017

US company Coach to change name to Tapestry from Oct 31

Coach Inc., a New York-based house of modern luxury accessories and...

Interviews View All

Karin Ekberg
Leadership & Sustainability

Sustainable models are beneficial for brands, retailers and manufacturers

Sunil Kumar Sharma
Loknayak JPNSSSG Ltd

'The blend of cotton–linen yarn has high demand in the domestic and...

Ghanshyam Ghoghari
Kimora Fashion

Bridalwear is not about reds and whites anymore

Abhishek Pachauri

Reckon Industries adapts latest systems for manufacturing from designing...

Vikas Banduke

Softech Controls Private Limited (SCPL) is a part of the Cotmac Group, an...

C Dhandayuthapani

MAG Solvics Private Limited was established in 1991 to design and develop...

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Marcel Alberts
Eurofibers

Coating at a fibre level is a practice not usually seen in the...

Sanjukta Dutta
Sanjukta's Studio

<b>Sanjukta Dutta</b> creates unique garments by clubbing prints of...

Madhu Jain
Madhu Jain

She grew up in the walled city of Old Delhi, completed her studies, and...

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

October 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
77.1%
No
12.9%
Skip
10.0%

Total Votes: 70

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
61.4%
No
28.6%
Skip
10.0%

Total Votes: 70

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
85.7%
No
10.0%
Skip
4.3%

Total Votes: 70

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
75.7%
No
11.4%
Skip
12.9%

Total Votes: 70


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search