Home / Knowledge / News / China-Peru sign Free Trade Agreement
China-Peru sign Free Trade Agreement
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

Textiles | On 24th Oct 2016

Baba Ramdev’s Patanjali to enter textile manufacturing

Patanjali Ayurved, an enterprise initiated by yoga guru Baba Ramdev,...

Textiles | On 24th Oct 2016

German technology to help in energy saving in textiles

German technology can play a major role making the environment...

Courtesy: Trupik

Apparel/Garments | On 24th Oct 2016

Virtual 3D fitting rooms revolutionising online shopping

Virtual fitting rooms meant to bridge the gap between e-commerce...

Interviews View All

Amardeep Singh
Orient Craft

'In export markets, the trend in terms of embroidery, is towards matte...

Evelyne Cholet

‘France had a reputation of being big in new ideas, but poor in marketing...

Milind Khandwe
Hindoostan Innovation Centre

‘Modern technical textile is an indispensable tool for science and...

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Mohammad Hassan
Biax Fiberfilm

About one in every 20 patients picks up an infection while hospitalised....

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer Prathyusha Garimella is known for blending...

Sonam & Paras Modi

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


Letter To Editor

(Max. 8000 char.)

Search Companies

October 2016

October 2016

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


Browse Our Archives


Advanced Search