Welles Orr Comments on the South Korea-Peru Free Trade Agreement in the Latin America Advisor

"How Significant Is the South Korea FTA to Peru's Economy?"
Latin America Advisor
12.02.10Welles Orr discusses the importance of the free trade agreement between South Korea and Peru to both countries’ economies. Orr explains, "Benefits of the agreement include improved market access, rules of origin, trade in services, investment, telecommunications, intellectual property rights and government procurement, which will help both nations significantly expand their 2009 trade of $1.4 billion. Trade between Latin American and Asia-Pacific countries has grown substantially over the past five years, in part due to new groundbreaking bilateral agreements—Peru's exports to South Korea came to $750 million in 2009, a 36 percent increase over 2008. Its imports stood at $648 million…This is a good trade deal for two countries that are on a market opening tear around the world—the seventh FTA for Peru and the fourth with an Asian country and the eighth for South Korea.”
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