Thailand and Peru signed FTA agreement

As Thailand "World News" reported, Thai Commerce Minister and Peruvian Foreign Trade & Tourism Minister signed a "free trade zone agreement" in Asia-Pacific Economic Cooperation Meeting in Hanoi, making clear rules and regulations about reducing tariffs on exports. 50% products which exported from Thailand to Peru can take zero tariff; And 20% of tariffs will be gradually reduced in five years.

From January to September this year, bilateral trade between Thailand and Peru amounted to 85.6 million U.S. dollars, an increase of 24.4%.Thailand s export value was 41.4 million U.S. dollars, an increase of 24%. Peru will be Thailand s export gateway to South America. Likewise, the agreement will play a significant role in promoting exports to Thailand.