Australia Chile free trade agreement becomes effective

The Australia-Chile Free Trade Agreement came into force on Saturday 6 March, the first trade agreement between Oceania and a Latin American country. Besides trade the agreement covers services, investments, government purchases and intellectual property plus a special chapter on academic and scientific cooperation.

(MecroPress Article)

Peru and Japan to discuss Free Trade

Peru and Japan will begin free-trade negotiations next month, Peruvian Foreign Minister Jose Garcia Belaunde said yesterday.


After meeting with Japan's Foreign Minister Hirofumi Nakasone in Tokyo, Garcia Belaunde told Lima-based Radioprogramas, "The Global financial crisis won't hinder talks for an agreement."

I'll be sure to keep readers up to date with developments on this topic as they surface in the next few months. The politics of the global crisis aside, it would be a good idea from a macro-economic perspective to encourage economic cooperation between Peru and Japan.

Many people don't realize that next to Japan, Peru has the largest fishing fleet in the Pacific Ocean. Correct me if i'm wrong about this fact for it could be outdated. I believe it still holds true, especially because most official statistics don't account for the fact 2/3 of Peru's fishing vessels are part of the extra-legal economy in Peru, thus not officially included in most economic data.

APEC discusses Peruvian initiatives to speed up trade

Xinhua, the Chinese state media giant has reported on Peruvian initiatives to speed up the establishment of a new trade zone of the Asia-Pacific region, as some 100 delegates met in Cusco.



The "Inca Window," for Commercialization of Commodities, a term coined at this meeting in Cusco, describes the major goals of APEC as establishing a institution and order in which the 21 members of the bloc will benefit from

1) Increased efficiency and speed in trade
2) Reduced costs associated with trade
3) A closer and more "functional" relationship between regions/ countries which will thereafter encouarge further levels of exchange and cooperation.

Peru believes that by 2010, a mechanism of "anticipated resolutions" will clarify customs obligations for imports.

Rather abstract statement if you ask me, and one few Chinese readers will have any understanding of what it truly means (in my opinion). However, it is nice to see Peru making Chinese press and thus i'll consider it news worthy considering the focus of this site.

Actions and words being exchanged in Cusco are re-reverberating as far as China... "Cool" no?

Click here to access the full story from Xinhua

APEC economies continue efforts to establish Asia-Pacific Free Trade Area

APEC is pushing to see the creation of a Free Trade Area in including all nations in the Asia-Pacific region. It would definitely be interesting to see a true Free Trade Area of the Asia-Pacific region in operation. However, many obstacles remain as to what such "free trade pact" should entail-- especially since it will include many countries.

I personally question how it will over-lap, conflict, or work in tandem with the various Free Trade Agreements already in existence and established by countries of Asia-Pacific region.

For instance, will this further hinder regional economic cooperation from the Andean Community or Mercosur in South America?

Will the already established FTA agreement between Chile and China and the one currently being negotiate by Peru with China cover different issues than a pan-asia one which includes China?

Updates to come after I do some digging into some of these questions and others.

Click here to access a full story pertaining to this topic, courtesey of Andina.com (Peruvian Press).