The Peru-Australia Free Trade Agreement (PAFTA) entered into force on 11 February 2020.
PAFTA will launch a new chapter in economic relations between Australia and Peru. This trade agreement provides Australian businesses a gateway to Latin America, strengthening our economic relationships within the region and helping facilitate value chains between Americas and Asia.
Peru has been one of the fastest growing economies in Latin America over the last decade. In 2018-19, Australia's two-way trade with Peru was worth $656 million.
PAFTA enables Australian businesses to take advantage of this growing market and strengthens our economic relationships with Latin America.
By removing certain barriers to trade and investment, PAFTA makes doing business between our two countries easier. Under PAFTA, Australian exporters to Peru gain substantial new trade and investment opportunities. For example, Australian beef, sugar and dairy farmers obtain historic access to the Peruvian market. PAFTA also provides Australian service providers a more transparent and predictable operating environment in Peru, and a platform for both countries to increase the value of our bilateral services trade. Investment commitments in the agreement protect and enhance investment in both directions.
Making the most of the Peru-Australia Free Trade Agreement
To help you make the most of PAFTA, you can read the: