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Peru Australia Free Trade Agreement

A free trade agreement with Peru would be a new gateway to Latin America, strengthening our economic relations with the region and allowing the Australian company to develop value chains between North and South America and Asia. In 2015-16, two-lane trade with Peru was $504 million, up 19.4 percent from the previous year. The first round of negotiations will take place in Lima in July. Australia and Peru have experience in the negotiations, so we hope that an agreement will be reached quickly. During the negotiations, I invite stakeholders to present their views on the specific trade and investment barriers that the pafta could address. For more information about the submission, click here. This trade agreement provides Australian businesses with a gateway to Latin America, strengthens our economic relations within the region and helps facilitate value chains between America and Asia. Over the past decade, Peru has been one of the most dynamic economies in Latin America. In 2018-19, Australia`s two-way trade with Peru was $656 million. Upon request, the Australian border team is responsible for reviewing in writing whether a credit of Peruvian origin is a Peruvian character in order to assert the preference of the PAFTA. Many of Australia`s exports to Peru are blocked by high tariffs that the free trade agreement seeks to eliminate.

Australian exports of milk and sugar are currently subject to tariffs of up to 29%, beef exports must expect tariffs of up to 17%, and sheep, wheat, rice and wine are also subject to tariff barriers. The United States, the European Union and Canada all have free trade agreements that give them preferential access to Peru. PAFTA will help Australian farmers compete and enter this growing market. A certificate of origin forms the basis of an application for preferential treatment under the PAFTA. This document is supplemented by the exporter, producer or authorized representative of the exporter or producer. The Turnbull government is seeking a high-quality global free trade agreement with Peru to open up new markets for Australian exporters that will create more Australian jobs. On February 12, 2018, the Minister of Trade, Tourism and Investment, Trade, Tourism and Investment Minister Steven Ciobo and his Peruvian counterpart Eduardo Ferreyros signed the Peruvian-Australian Free Trade Agreement in Canberra. Press release from The Hon Steven Ciobo MP – Minister for Trade, Tourism and Investment MEDIA CONTACTBen Dillaway: 0409 598 102Milena Stojceska: 0438 494 351 PAFTA enables Australian companies to tap into this growing market and strengthen our economic relations with Latin America. More information, including the Peruvian text, is available on the website of the Ministry of Foreign Affairs and Trade. Peru offers Australian exporters a growing chance that this free trade agreement will help unlock it. Over the past decade, Peru has been one of the fastest growing economies in Latin America and the world, with an average annual GDP growth of 5.9% (2005-2015).

The terms of application received royal approval on December 3, 2019. Please visit the Ministry of Foreign Affairs and Trade website for full information on PAFTA. To apply for preferential rates under the PAFTA, the following codes must be used in the integrated freight system: the certificate of origin must meet the requirements of Article 3.17 of the agreement and contain the minimum data contained in Schedule 3-A: I confirm that the products described in this document are considered to be origin products in accordance with the free trade agreements between Australia and Peru and that the information contained in this document is accurate and accurate and that the information contained in this document is accurate and accurate and Correct.