 |
Peru-Thailand Deal Expected to Double Two-Way Trade
November 11, 2009
by AQ OnlineOn Friday, Peru and Thailand will sign a free-trade agreement in Singapore at the Asia-Pacific Economic Cooperation forum that will eliminate tariffs covering 5,000 commercial products. Last year, trade between the two countries was valued at $350 million.
But the agreement also will help Thailand enter more broadly into the Americas. “We aim to use Peru as our gateway to South America as it is a member of key regional trading blocs and it already has FTAs with the United States, Canada and Mexico," according to Deputy Thai Commerce Minister Alongkorn Ponlaboot. Thailand’s main imports from Peru consist primarily of tin and fish, while Peru imports mostly electrical appliances, auto parts and clothing from Thailand.
In Asia, Peru has already signed a trade deal with China and is negotiating pacts with Japan and South Korea.
Tags:: Peru Thailand Free Trade AgreementTo read more from Americas Quarterly, sign up for a free trial issue of the print magazine. No risk, no commitment.
To speak with an expert on this topic, please contact the communications office at: communications@as-coa.org or (212) 277-8384.
This will improve economical
This will improve economical conditions of both countries.
Joan
Great work dude.
Good steps
This is a great step toward seeing an improvement in the economies of all countries involved. Asia is making great progress in the free trade arena.