Peru and Thailand towards a free trade agreement

Published 2024년 12월 14일

Tridge summary

Thailand and Peru are set to close negotiations for a free trade agreement (FTA) in 2025, strengthening their 60-year diplomatic relationship. The FTA will be marked on the anniversary of diplomatic ties, following the political will of the leaders of both nations. Since the establishment of economic negotiations in 2003, trade between the two countries has seen significant growth, reaching nearly $571 million in 2023. Peru, exporting mainly traditional products and increasing its presence in the agricultural sector, sees Thailand as a market for further growth, particularly in agricultural goods. The FTA is anticipated to create more job opportunities, expand agricultural sectors, and increase income for Peruvians.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

12/14/2024 Thai Ambassador Pisanu Sobhon confirmed that next year his country will close negotiations with Peru for the signing of a definitive free trade agreement (FTA), on the 60th anniversary of the establishment of diplomatic relations. In this way, both nations will fulfill their political will expressed by Thai Prime Minister Paetongtarn Shinawatra and President Dina Boluarte in a parallel meeting held as part of the Asia-Pacific Economic Cooperation Forum (APEC) leaders' meetings. Peru and Thailand began their diplomatic relations on November 10, 1965 and since then both countries have forged a close bond in the areas of economy, politics and science. After intense and long negotiations, both countries are preparing to consolidate the close relationship with the signing of an FTA. Our trade relationship began in October 2003 with the signing of a framework agreement for the negotiations that led to the signing of the original protocol on November 19, 2005. Today, in ...

Source: PEelperuano