Peru expects to finalize trade deals with South Korea and Japan in April

Foreign Trade and Tourism Minister Martín Pérez said Friday that Peru is expecting to finalize free trade agreements with South Korea and Japan next month.

“In the beginning of April, negotiators will meet during a new round with South Korea, while a meeting with Japan is scheduled for the week of April 26,” Radio Programs Peru quoted Pérez as saying. “Both Asian countries want it to be the last round [of negotiations].”

Pérez said that during their last meeting with South Korea, the Asian country agreed to improve a proposal that would provide tax exemptions for 200 Peruvian products.

Peruvian officials are scheduled to meet their South Korean counterparts in Washington D.C. and with representatives from Japan in Tokyo.

President Alan García’s administration is an ardent supporter of free trade. Peru already has a trade deal with its largest commercial partner, the United States.

At the end of February, Peru finalized negotiations for a free trade agreement with the European Union and on March 1 a trade accord with China came into force.

Peru has also signed trade pacts with Canada, Chile, Singapore and Thailand.

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