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Korea-Peru FTA Takes Effect

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저작자 미상 (저작물 2267374 건)

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공표년도

창작년도

2011-08-01

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The free trade agreement between Korea and Peru came into effect Monday‚ widening the door to increased trade and investment between the two countries.
Trade between the two countries has doubled over the past five years with last year's trade volume standing at 1.9-8 billion US dollars.
And with the FTA‚ bilateral exchanges are expected to grow.
[Interview : Lee Yun-young‚ Director-General for FTA Negotiations
Ministry of Foreign Affairs & Trade
] "As of last year‚ our trade amounted to around two billion dollars. With the Korea-Peru FTA‚ we expect a huge amount of two-way trade with the elimination of tariffs."
The accord calls for the elimination of all tariffs within 10 years.
Tariffs on Korean automobiles with engine displacements of less than 3-thousand cubic centimeters will be scrapped in five years‚ while taxes on Korea-manufactured televisions and Peruvian coffee will be abolished immediately.
The deal is expected to give boost to Korea's auto and electronics industries.
[Interview : Myoung Jin-ho‚ Researcher
Korea International Trade Association] "Currently‚ there is a nine percent tariff on cars and as much as 17 percent on electronic products. With the elimination of tariffs‚ we are expecting an additional boost to increasing exports."
Peru holds roughly one third of the world's key resources‚ such as zinc and iron‚ and nine Korean companies‚ such as the Korea National Oil Corporation and Daewoo International‚ are already involved in resource development projects in the country.
[Interview : Lee Yun-young‚ Director-General for FTA Negotiations
Ministry of Foreign Affairs & Trade
] "Peru is very well known for its vast energy resources. So our firms have already invested in Peru with a total amount of around 3.3 million US dollars."
The Peruvian economy has been growing at an annual average rate of 7.2 percent over the last five years‚ the highest among South American economies.
[Reporter : Hwang Sung-hee
ssung86@arirang.co.kr] "Peru is the second South American country to sign a trade deal with Korea‚ following Chile. And officials at the trade ministry say the pact will help Korean companies make their way into the South American nation and gain greater access to resource development projects there.
Hwang Sung-hee‚ Arirang News."
Reporter : ssung86@arirang.co.kr

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