Peru and Australia Sign Free Trade Agreement

On February 12, an FTA was signed that will eliminate tariffs on 99% of Australian goods within five years of the agreement entering into force. Trade minister Steven Ciobo said the Peru-Australia Free Trade Agreement (PAFTA) would grant immediate tariff-free market access to Australian exports of sugar, dairy, rice, sorghum, sheep meat, wine, kangaroo, almonds, pharmaceuticals, medical devices, paper products and machinery will have immediate tariff-free access.” The agreement secures tariff-free access for an “unprecedented” 90,000 tonnes of Australian sugar.