Peru and Costa Rica reach free trade agreement

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Foreign Minister of Trade and Tourism Eduardo Ferreyros. (Photo: Gustavo Sánchez/Andina )

Foreign Minister of Trade and Tourism Eduardo Ferreyros reported that Peru and Costa Rica reached an understanding and have successfully concluded negotiations on a free trade agreement (FTA), reports Andina.

He said that the last round of talks was held from May 2 to May 6 and during those dates topics like market access for goods, rules of origin, as well as services and investment were discussed.

“With this agreement between Peru and Costa Rica, preferential access to more than 80 percent of bilateral trade has been achieved, which may be benefited from an immediate duty-free access or in a maximum period of five years from the entry into force of the FTA," he said.

The FTA with Costa Rica will allow many Peruvian export products, such as turkey meat, sardines, evaporated milk, artichokes, mangoes, paprika, among others, to have preferential access to that market.

The minister pointed out that sensitive products for Peru like dairy, chicken, pork, rice, potatoes and yellow corn, were excluded from the negotiations.

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