95% of Peruvian Products Will Enter Australia Taxfree

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These products are mainly from the agricultural, fishing, industrial and textile-confection sectors.

The Ministry of Foreign Trade and Tourism (Mincetur) reported that upon the entry into the Free Trade Agreement with Australia, 95% of Peruvian products exported to that market will enter without taxes.  Such agreements are drivers for Peruvian economic advances and expected growth of 14% by the end of the year.

The Minister of Foreign Trade, Edgar Vásquez, said that agricultural, fishing, industrial and textile-confection sectors are the main areas of the economy that will not pay taxes in Australia. Products such as avocados, fresh grapes, blueberries, tangerines, asparagus, quinoa, prawns, natural dyes, shirts, polo shirts and cotton t-shirts, alpaca garments, will enter without taxes immediately.

It also indicated great commercial opportunities that non-traditional exports have had with Australia since the oceanic country acquires products of this sector for a value of US $ 1.6 million which represents more than 85% of the real cost. Australia’s economy has grown for 25 years and in 2016 it reached a per capita GDP of around US$ 50,000 while Peru is considered the 3rd best business climate in Latin America.

Exports have become a very important activity in Peru, creating more than 85,000 jobs which represent 17% of the jobs in Peruvian industry.

What do you think about this measure?

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A native of Zulia, Venezuela. Aris joins linvinginperu after moving to Lima to work as a content creator. Bachelor’s degree in accountancy and 2 years of experience as a professional article writer and community manager. Watching movies and series, reading books and riding the bicycle is some of his preferred activities. Passionate about the idea of traveling the world to learn more about other cultures. Contact: aris.sandrea@gmail.com