The two countries have expressed interest in formalizing an agreement in the short term, given the possibilities of opening up other markets through this connection between the two regions.

The ministers of trade of Peru and Australia, Eduardo Ferreyros and Steven Ciobo, met in Lima to start negotiations toward a free trade agreement (FTA) (link in Spanish) between the two countries, which would benefit a large number of products and include high-quality standards.

The agreement would allow preferential access for Peruvian products with great export potential, such as asparagus, artichokes, peppers, canned fish, frozen seafood, shirts and other apparel, stickers, paper boxes, notebooks, oils, dyes, paint, and pipe fittings, among others. Mr. Ferreyros also said that they would seek to reach agreement on “mining-related services and professional services.”

The two officials also referred to the postal services agreement that they signed last May during an official visit by the Peruvian minister of trade to Australia, which will strengthen the FTA once it has been formalized and will boost connectivity and tourism between the two countries.

Australians have always shown great interest in negotiating with Peru because they have long recognized its potential as one of the Latin American economies that has experienced most growth in recent years.