Living in Peru | 14 July, 2008

Peru-China free trade teams advised not to rush negotiations

The Lima Chamber of Commerce (CCL) suggested today that Peru and China’s negotiating teams should not speed up the signing of a Free Trade Agreement (FTA) in November, during the sixteenth Summit of Leaders of the Asia-Pacific Economic Cooperation (APEC) Forum to be carried out in Lima.

"What has happened in the fourth round of negotiations is that the requests of both countries have not coincided and the expectations of one side or another have not been fulfilled by the other part", said international business expert of CCL, Rubén Ríos.

"However, I would suggest our negotiating team not to force the signing of the FTA in November but let the process follow the usual steps and take the necessary time to approve it", he said.

The fourth round of negotiations between Peru and China was held in Lima from June 28 to July 3.

During this meeting, the Chinese technical team was not very open to accept Peruvian proposals regarding the issue of sensitive products.

In addition, it established certain limits for the exports of products that are considered fundamental in the Peruvian export offer, such as fishmeal.

Rios added that one of the alternative proposals if we do not manage to conclude the negotiation process in November, is to reach a sort of early harvest agreement.

News source: ANDINA