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Peru, Thailand agree to continue FTA talks

Andina, Peru

Peru, Thailand agree to continue FTA talks

12 June 2015

Lima/ Peru’s Minister of Foreign Trade and Tourism Magali Silva and Thailand’s Deputy Minister of Commerce Apiradi Tantraporn agreed to continue moving forward towards the signing of a Free Trade Agreement and strengthen trade ties between the two countries.

Tantraporn paid an official visit to Peru along with a Thai delegation of trade officers, representatives of private sector unions and a group of 21 businessmen from automotive, construction, agricultural machinery, electronic products, plastics and rubber industries.

Silva noted the performance of non-traditional exports to Thailand, which increased to US$77.6 million of a total of US$92.7 million in 2014.

“Peruvian exports to the Thai market include a variety of quality products at competitive prices, which explains the need to make progress on sanitation protocols for avocados and citrus fruits –Peruvian products with high export potential,” she added.

She said the partial agreement between Peru and Thailand, which entered into force on December 31, 2011, has allowed the diversification of Peruvian exports in this market. The agreement includes the Protocol to Speed up Liberalization of Trade in Goods and Trade Facilitation, as well as three additional protocols.

The minister also referred to the increased exports of agriculture and fishing-related products, which have seen a 40% and 23% surge, respectively, since the agreement’s entry-into-force.

As for the fisheries sector, frozen giant squid exports increased from US$ 24 million in 2012 to US$ 42 million in 2014, which demonstrates the potential of Peru-Thailand trade ties,” she continued.