Peru’s exports to Australia recovering strongly

Peru’s exports to Australia are set to surpass pre-pandemic levels. In the first quarter of the year, they totalled US$14.4 million, 10.8% more than in 2021, but 4% less than the same period in 2019 (US$15 million), according to the Association of Exporters (ADEX).
Peru signed a Free Trade Agreement with Australia, which came into force on February 11, 2020, allowing duty-free entry of 96% of the Peru’s exports, including avocado, blueberries and tangerines. However, trade was hindered by the confinement measures in place to combat the pandemic as well as the increase in maritime freight costs.
To further promote trade and investment between the two nations, ADEX and the Australia-Latin America Business Council (ALABC) signed a Memorandum of Understanding (MOU) in August 2021 that established the Australia-Peru Business Council (APBC).
The FTA with Australia is one of the most ambitious bilateral agreements that Peru has signed. It includes commitments regarding tariffs, sanitary measures, technical barriers to trade, customs matters and more. It also features a chapter on small and medium-sized enterprises (SMEs).