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Discussions to be held on fast track for solving FTA issues
Aug '08
Peru is working on building strategies to quicken the negotiations on the free trade agreement (FTA) with China so as to have a deal before November, when the Asia-Pacific Economic Cooperation (APEC) would be held. Even China is hoping to get over with the negotiation as soon as possible.

While Peru is looking forward to maintaining tariff for products like textile and footwear, currently charged at 10 percent, China is hoping for a reduction in the same amounting to 8 percent on the total products.

Ministers from both sides agreed to have a more open and detailed discussion about both technical and other problems in order to overcome the obstacles facing the FTA. It is with regard to this that Eduardo Ferreyros, Vice-Minister of Peru's Foreign Trade Department will visit China this month to examine and initiate topics for negotiation with Chinese officials.

Apart from coming to a unanimous conclusion about the FTA, both sides will also strive hard to solve the existing problems and aim for mutual benefits.

Fibre2fashion News Desk - China

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