On 16-18 July 2019, in Lima, the 2nd Round of Negotiations for a Trade Agreement between the Argentine Republic and the Republic of Peru was held.
The negotiation was held in response to the need to have a new-generation Agreement to consolidate bilateral trade relations and modernize the existing legal framework (ECA 28 MERCOSUR – Peru, which established free trade of goods) through the incorporation of trade rules that provide greater certainty and new opportunities for businesspeople of both countries with a view to facilitating and increasing reciprocal trade, reaching trade agreements which include measures for effective market access.
Argentina's main goal is to negotiate in relation to new sectors, particularly government procurement and services, as well as to discuss issues affecting the evolution of bilateral trade flows in the agricultural and agroindustrial sectors. The parties intend to dynamize the bilateral trade relationship, which amounted to USD 1,350 million in 2018, well below the potential of both economies.
In this Round, the negotiation on the Competition chapter was concluded, and significant progress was made on the Sanitary and Phytosanitary Measures chapter and the Technical Barriers to Trade chapter, with only a few issues left to work on.