Could Peru negotiate FTAs with Australia, NZ?
The option has been highlighted ahead of the APEC Summit in Lima in case Trans-Pacific Partnership (TPP) negotiations are stalled.
With speculation U.S. President-Elect Donald Trump will try to pull out of negotiations for the wide-reaching Trans-Pacific Partnership (TPP) trade deal, other members on the negotiating table are assessing their alternatives.
All participating countries happen to be a part of the Asia-Pacific Economic Cooperation (APEC) Forum, which will have its 2016 CEO Summit in Peru this week.
Speaking with Peruvian newspaper El Comercio, APEC CEO Summit 2016 chairman Alfonso Bustamante said while the event was not aimed at closing free trade deals, it was key to think long-term.
"Peru has signed 15 free trade agreements," Bustamante told the publication.
Peruvian Foreign Trade Society (Comex-Peru) president José Luis Noriega mentioned the Ministry of Foreign Trade and Tourism's goal of doubling non-traditional exports during the administration of recently elected Peruvian President Pedro Pablo Kuczynski (PPK).
"We don't know what will happen with the Trans-Pacific Partnership (TPP), but we have two important economies - Australia and New Zealand - willing to negotiate bi-lateral treaties if the TPP is delayed," Noriega was quoted as saying.
In terms of produce, Peru's main export crop to both countries is asparagus, while it also sends dried fruits, nuts, and in the case of New Zealand, table grapes.