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LatinNews Regional Monitor: Andean Group - 25 January 2019

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In brief: Peru

* Peru’s minister of foreign trade & tourism, Édgar Vásquez, has announced that in April Peru and China will begin new negotiations to optimise the free trade agreement (FTA) which was originally signed by the two countries in April 2009. In a press statement, Vásquez emphasised how China had become Peru’s main trading partner for five years, particularly in exports of raw materials such as minerals. The minister stated: “We maintain an active relationship with China, one that is constantly being renewed. Therefore, both countries have agreed to optimise the FTA with the objective of maximising benefits. This first meeting will be held in Beijing”. Vásquez also highlighted that the Peru-China FTA has become a key instrument for strengthening the trade relationship between both countries. Between January and November 2018, bilateral trade grew by 15%, exceeding US$20bn.