The Peru-Australia Free Trade Agreement (PAFTA) will enter 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:
- PAFTA outcomes documents that summarise the main outcomes
- Guide to using PAFTA to export or import goods The Guide has been published in advance of entry into force to allow Australian businesses to plan ahead. However, claims for preferential tariff treatment under PAFTA cannot be made until the Agreement enters into force.)
- FTA Portal, which is a comprehensive resource for exporters, and importers of goods and service providers looking to explore the benefits of Australia's free trade agreements. The FTA Portal will be updated to include PAFTA related information closer to the time of entry into force.
- Doing Business with Peru guide – for more information about doing business in Peru and Peru's business culture.