4/5/2010
China, Peru Reducing Tariffs

China and Peru have established a “Free Trade Area” and will begin reducing 90% of product tariffs to zero.

China is the second largest trade partner of Peru and Peru is the 7th largest for China.

China also has Free Trade Area agreements with ASEAN, Chile, Pakistan, New Zealand and Singapore.

China signed a “Closer Economic Partnership Arrangement” with Hong Kong and Macau and has completed negotiation of a FTA with Costa Rica and is in negotiations with Australia, Gulf Cooperation Council, Iceland and Norway. ©2010 GlobalFastenerNews.com and Fastener World