Peru, South Korea to sign free trade accord
PERU: Peru and South Korea will sign a free trade agreement March 21
in Seoul, officials said, predicting a 50 percent increase in trade
between the two countries.
The free trade pact, which must be ratified by both Peru and South
Korea's parliaments, was concluded in November after five rounds of
negotiations between the two countries.
Peru's foreign trade ministry projected a 50 percent increase in
trade between the two countries after the treaty goes into effect.
It will open Peru's domestic market to South Korean-made automobiles
at lower prices, household appliances, capital goods and electronic
Peruvian exporters are expected to gain greater access to the South
Korean market for their agricultural and seafood products.
Peru has free trade agreements with the United States, China and
Singapore. LIMA, Thursday, AFP