Peru to sign Free Trade Agreement with Thailand by late 2024

Peru's Ministry of Foreign Trade and Tourism (Mincetur) expects to sign a Free Trade Agreement (FTA) with Thailand during the final quarter of this year, likely in October or November. Minister Rogers Valencia stated that the agreement is ready for signature and officials are currently determining the exact date.

In addition to the Thailand deal, the ministry is working to improve existing commercial agreements with China, Peru's primary trading partner, and Brazil. While trade with Brazil has reached $5 billion, Valencia noted the relationship remains in a deficit, prompting efforts to expand the export of Peruvian logistics services.

Furthermore, negotiations are underway to establish a trade agreement with India, which the minister described as the largest market currently available. The government also aims to promote service exports, including translation, logistics, and call centers, while boosting convention tourism in regions such as Lima, Arequipa, Cusco, and northern Peru.