(Ministry of Commerce) The third conference of China-Peru free trade area (FTA) negotiation is held in Beijing Recently. Both parties discuss deeply on issues such as IPR protection.

At the conference, both parties conduct deep consultation on issues such as tariff reducing mode for trade in goods, national treatment and market access documents, price offer mode of trade in service and relative documents, rules of origin, customs procedures, technical barrier to trade, sanitation and plant quarantine, dispute settlement, mechanisms, trade remedy, IPR protection and geographical indications, and exchange views on environmental protection.

On September 7, 2007, Chinese President Hu Jintao and Peruvian President Alan Garcia Pérez jointly announce to launch FTA negotiations between the two countries. Currently, Peru is China’s important trade and investment partner in Latin America. In 2007, the bilateral trade hit $6.014 billion, up 49.59 percent year on year, including China’s export of $1.678 billion and import of $4.336 billion, up 66.43 percent and 49.03 percent respectively. Cooperation in terms of mutual investment, project contracting and labor forces between the two countries grows rapidly. The two parties agree that the next round of negotiation will be held in July in Lima.