Peru-Japan FTA to boost trade by $5B in 2011
Peru’s trade with Japan is expected to increase by almost US$5 billion this year with a free trade agreement (FTA) expected by June, Peru’s ambassador to Japan told news website Andina.pe.
The agreement will likely bolster an already strong export market which includes mangoes, bananas and organic coffee exports from the South American nation, worth a total of US$1.9 billion in 2010 until November, the story reported.
Peru’s Tokyo ambassador Juan Carlos Capuñay, told Andina the Japanese government had become more open to the country’s agro-industrial products in recent times, especially with mangoes.
“In early 2010 we obtained entry with mangoes, which are products with a strong multiplier effect and social significance in Piura and Lambayeque,” Capuñay was quoted as saying.
“Japan is very important for Peruvian fruit sales, not only for the size of the market but because of the high prices consumers pay for the products,” he told Andina.
He said asparagus volumes were high as well while Peruvian bananas, known as ‘Inka Bananas’, were successful too, the website reported.
He said that in one year other Peruvian products were likely to pass health checks for entry into the Japanese market, including avocados, grapes and citrus fruits, according to Andina.