Peru and Australia to begin ag trade talks
Trade Minister Steve Ciobo is set to launch negotiations tomorrow on an FTA with Peru, following up on last week’s announcement that similar talks had been kick-started to secure a trade deal with Hong Kong.
Peru has a population of 31 million and is one of the fastest growing economies in Latin America. It presents a growing opportunity for Australian exporters that face a competitive disadvantage in the market due to imports from the US, EU and Canada that have duty free access via existing FTAs.
In 2015-16, Australia’s total two-way trade in goods and services with Peru was worth $504m - up 19.4pc from the previous year. Total two-way trade in goods and services between the two countries last year was worth $15.3 billion.
source: queenslandcountrylife.com.au
