Vietnamese fruit exporters will enjoy zero tariffs in Peru for four products immediately after the Trans-Pacific Partnership (TPP) accord takes effect, a Peruvian diplomat told Tuoi Tre News yesterday (17 November).
Vietnamese cashews, longan fruits, lychees and dragon fruits will have their nine per cent import duty removed in Peru following the ratification of the TPP, Peruvian Charge d'Affaires Luis Tsuboyama informed a forum in Hanoi.
The trade accord will bring huge opportunities for other Vietnamese produce to penetrate the Peruvian market, the diplomat said.
But fruit exports will have to pass new plant quarantine standards that Peru is expected to put in place by next year, Tsuboyama added.
Peru is one of three Latin countries besides Chile and Mexico that is party to the ambitious 12-nation trade agreement, including Australia, Brunei, Canada, Japan, Malaysia, New Zealand, Singapore, the US and Vietnam.
The TPP deal, reached on October 5 after marathon talks between the 12 party countries, aims to liberalise commerce in 40 per cent of the world's economy, according to Reuters.
The party countries are expected to officially sign the deal no later than the end of the first quarter of next year, after which their legislatures will begin the ratification process.
Vietnam's lawmaking National Assembly could start considering the pact in mid-2016, according to The Saigon Times Online.
Tsuboyamaadvised that Vietnam not view Peru as the final destination to sell its goods to, but the gateway to the vast Latin American market.
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