Peru-Singapore FTA advances
Demonstrating the increasing tendency for Latin American nations to deal directly with trade partners in Asia, Peru and Singapore Friday concluded the second round of negotiations for a Free Trade Agreement.
Channel News Asia reported Monday that the two sides had reached substantive agreement after a week of meetings in Peru and had issued a joint statement saying they had come to an agreement on sanitary and phytosanitary measures.
The report said significant progress had also been achieved on trade in goods, rules of origin, customs procedures, trade remedies, investment, technical barriers to trade, institutional provisions and dispute settlements.
Peru and Singapore started the process for a Free Trade Agreement in November 2004 and the first round of negotiations was held in Singapore in February 2006.
The next round of talks is expected to be held in Singapore in August or September.