China Peru Free Trade Agreement

Since the North American Free Trade Agreement (NAFTA), signed in 1994 by Mexico, the United States and Canada, various free trade agreements around the world have introduced environmental chapters due to trade and investment activities that can have a multitude of environmental and social impacts. One of the main clauses that often appear in these chapters is that countries should not relax or neglect environmental legislation in order to stimulate trade and investment. This free trade agreement is so far the most comprehensive agreement of its kind negotiated by China with another developing country. He promised to maximize the exploitation of Peru`s rich mining, hydrocarbon, forestry and fisheries resources, based on agreements that attract foreign investment. Large FDI flows have helped bring Peru`s growth rate to one of the highest in Latin America in recent years. The China-Peru Free Trade Agreement (FTA) was officially ratified by each country`s government on December 6, 2009 and entered into force on March 1, 2010. The bilateral free trade agreement aims to remove barriers to trade and investment between China and Peru. We are aware that to date, China is conducting virtual trade negotiations with some countries, although no information tells us how many rounds of negotiations are to come. We believe that there is still time to bring a chapter on the environment to the negotiating table. It seems that the negotiating team can impose issues that are important to our country.

No more excuses. It has to be done. The inclusion of environmental chapters in free trade agreements is considered at international level to be a good practice. The Ministry of Foreign Trade and Tourism (MINCETUR) deserves to be recognized for its hospitality, which demonstrates the excellent negotiating capacity of the Peruvian team. The most demanded Peruvian products in China are minerals, copper cathodes, fishmeal, iron minerals and silver minerals. At the China International Import Expo, Rogers Valencia, Peru`s Minister of Foreign Trade and Tourism, announced China`s importance as a trading partner. While most Peruvian exports are related to minerals, there are other potentials such as agricultural products, fish and seafood, as well as textiles. In recent years, China and Peru have made efforts to strengthen relations, boost trade and encourage investment.

This has led to significant Chinese investments and projects in Peru, especially in the fields of logistics, transport, telecommunications and mining….