Peru proposes to integrate changes to the FTA with China to optimize | Trade | Economy

The Deputy Minister of Foreign Trade and Tourism, Edgar Vásquez, pointed out that the Ministries of Commerce of Peru and China worked together to conclude what was they called reference of the optimization process of Peru-China FTA ", with the aim of maximizing the benefits of the trade agreement.

In this meaning, said the government will evaluate the treaty with the Asian country and the most appropriate date is sought for the authorities of the NAFTA Administrative Commission to meet in order to evaluate his performance and determine areas for improvement.

He also pointed out that TLC has been a success for both parties. However, nine years have pbaded and it is still possible to incorporate new elements according to the Andina Agency. [19659004] He explained that Peru is interested in continuing to deepen the benefits of the agreement. for SMEs, so that there is greater recognition of the potential that exists.

In addition to optimizing customs cooperation modernity through trade in services and electronics . 19659006] "The e-commerce has become a key element for trading in our country.However, this issue has not been taken into account during the negotiation of the FTA, it 9 years ago .This process gives us the opportunity to identify the problems that need to be included, due to the evolution of trade, "said Vásquez, according to the newspaper Gestión.

"Of course, China has its own initiatives.We must put a list of topics of mutual interest so that they can be accepted."

COMMERCIAL WAR

According to economic badysts, the trade war between the United States and China would accordingly, the falling prices of commodities such as copper, Peru's main export product, would result in losses of the order of US $ 2,000 to 2,500 million in the country's exports, reports the newspaper El Comercio. Economist Roberto Abusada, the price of copper and zinc dropped by 14%, this may represent an annual loss of more than $ 2,500 million from Peruvian exports and a drop in tax revenue that can be conservatively estimated in more than S / 1,300 million.

For its part, César Fuentes, Director of the Master in ESAN Public Management, felt that If growth projections were maintained in the copper price in the Mini Ministry of Economy and Finance (MEF) and the Central Reserve Bank (BCR) for the period 2018-2019, the loss in value our exports will rise to US $ 2,000 million; about 1% of Peruvian GDP.