Tomáš Michlík DiS.

TM-System - Tomáš Michlík DiS.

Trade Agreement Between China And Peru

Integrating environmental chapters into free trade agreements is seen as good practice at the international level. Indeed, the vast Progressive Trans-Pacific Partnership (CPTPP, formerly TPP), signed by Peru in 2016 and promoted as a new trade standard of the 21st century, has an environmental chapter. He promised to maximize the exploitation of Peru`s rich mineral, hydrocarbon, forestry and fishing resources, based on agreements that attract foreign investment. Large flows of FDI have contributed to Peru`s growth rate to one of the highest in Latin America in recent years. Since the North American Free Trade Agreement (NAFTA), signed in 1994 by Mexico, the United States and Canada, several free trade agreements around the world have introduced chapters on the environment because of trade and investment activities that can generate a wide range of environmental and social impacts. One of the main clauses, often contained in these chapters, states that countries should not relax or neglect environmental legislation in order to stimulate trade and investment. San Isidro, Peru. I trade free trade with regard to Asian trade, China has been the number one place in trade with Peru for the past five years. The Peru-China trade partnership will continue to develop and include Chinese investment projects with the support of the Peruvian government. The free trade agreement also allows the parties concerned to adopt the trade defence measures (anti-dumping and global safeguards) authorized by the World Trade Organization.

It also includes an additional bilateral protection instrument and establishes cooperation mechanisms for investigating authorities to help each other gather relevant information. To improve its current relationship, Foreign Trade and Tourism Minister Edgar Vasquez announced that Peruvian and Chinese officials will begin a series of bilateral meetings in April this year to improve the existing agreement. In this sense, the Peruvian government is showing its willingness to increase business with the global superpower. However, there is one chapter in other important trade agreements signed by our country that the government has made a striking out of the agreement with China: the environment. The Garcia government is convinced that bilateral trade liberalization agreements not only provide the means to increase Peru`s export capacity and diversify its external markets, but also to increase foreign investment. Garcia has made the attraction of foreign direct investment (FDI) the cornerstone of his government`s long-term economic strategy, despite opposition from a number of sometimes noisy groups.

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