The fast-growing economy in Peru has led to the establishment of economic relationships with other countries.
Australia is now on the list of countries confirming free trade agreements with Peru. It is worth mentioning that countries like India, Costa Rica, and even Japan have also confirmed similar agreements with Peru.
The Australian Trade Minister said he is looking to sign the free trade agreement as soon as possible.
He mentioned he is expecting to sign it during the XXV Asia-Pacific Economic Cooperation Leaders Summit that will be held this coming Saturday, November 11, in Vietnam.
President PPK said this free trade agreement has been discussed during these last months and is now ready to be signed. It is an important measure, taking into account that trade between both countries grew by 57% only last year, but still represents less than 0.5% of Peruvian exports. This percentage is expected to grow after the agreement is signed.
When this agreement is signed, the number of countries with a free trade agreement with Peru will reach 22 total.
It is worth noting that all these agreements have a direct impact on the percentage of exports per year, a percentage that has grown a lot this last year. You can read more about it in this article.