China's chemical products will enter "zero tariff" into Peru
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After friendly consultation between the two sides and written confirmation, the "China-Peru Free Trade Agreement" was formally implemented on March 1. It became the eighth free trade agreement reached and implemented by China (including the Mainland and Hong Kong and Macau CEPA). According to this bilateral trade agreement, China's chemical products will enter the "zero-tariff era."
China-Peru Free Trade Agreement covers a wide range of areas and has a high level of openness. In terms of trade in goods, China and Peru will implement zero tariffs on more than 90% of their products in phases, and the two countries will join hands to enter the “zero tariff eraâ€. China's light industry, electronics, home appliances, machinery, automobiles, chemicals and many other products and secret mineral products will benefit from tax cuts. In terms of investment, the two sides will give each other investors and their investments in access to national treatment, most favored nation treatment and fair and equitable treatment, encourage two-way investment and provide convenience for them. The two sides also reached wide consensus in many areas such as intellectual property rights, trade remedy, and technical trade barriers.
The economic complementarity between China and Peru is strong and the economic and trade relations have developed rapidly in recent years. At present, China is Peru’s second largest trading partner and Peru is China’s seventh largest trading partner in Latin America. China and Peru have negotiated and signed a free trade agreement in the context of the financial crisis, and began to implement the free trade agreement in the early period of economic recovery in the post-crisis era, which will surely promote economic growth and friendly cooperation between the two countries and further increase the strategic partnership between China and Peru. Substantive connotation.