Latinnews Daily - 12 February 2018

Peru: After launching negotiations in May 2017, Australia’s Minister for Trade, Tourism and Investment Steven Ciobo, and his Peruvian counterpart, Eduardo Ferreyros, have signed the Peru-Australia Free Trade Agreement (Pafta). Pafta will eliminate almost all tariffs between the two countries within five years of the agreement formally coming into force. Commenting in an official media release, Cioba said that Pafta is “opening the door for Australian exports to one of the fastest growing economies and regions in the world”. Ferreyros said that he is “sure that this agreement will bring vast opportunities for our exporters of goods and services”. In 2016, bilateral trade was worth AU$590m (US$443m), up 51.2% from the previous year. 

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