Peru-China free trade negotiations could close in November

ANDINA | 26 August 2008

Peru - China free trade negotiations could close in November

Peru’s minister of Foreign Trade and Tourism, Mercedes Aráoz, considered today the possibility that negotiations with China in order to reach a Free Trade Agreement (FTA) could end in November.

“Yes, it is possible, we have very significant experience; we have negotiated with the United States that is as immense as China, and this country has great opportunities”, she announced on a local TV program.

Aráoz indicated that yesterday she spoke with Chinese negotiators and now she would have a consulting meeting with the private sector in order to find appropriate tools for protecting the country’s interests.

It is worth noting that the fifth negotiations round for the Peru-China free trade deal started yesterday in Lima, and it will last until August 30.

“We also have to understand that China has certain interests that we must consider, this is s a topic of negotiation”, added the minister.

Aráoz indicated that China is leaving aside the light industries to look towards higher technology industries, and its middle class is about the same size as the US economy’s middle class.

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source: LIP