The bilateral trade between Malaysia and Peru is set to increase significantly following the signing of the Trans-Pacific Partnership Agreement (TPPA).
Peru Ambassador to Malaysia, Guido F. Loayza, said the TPPA was the first free trade agreement that tied Malaysia and Peru, who were members of the pact, together.
"Two-way trade between Peru and Malaysia is low due to trade barriers including import duties which are imposed by both countries on products coming in from either side.
"TPPA will ensure that these barriers are lifted and boost trade volume between Peru-Malaysia," he told Bernama here today.
Last year, the bilateral trade between Malaysia and Peru amounted to RM508 million, up 14.2 percent, from 2014.
The TPPA, which was signed by Malaysia and Peru along 10 others on Feb 4, 2016 in Auckland, New Zealand, will among others, lower trade barriers such as tariffs in order to promote freer trade among member nations.
The other 10 members are Australia, New Zealand, Chile, Mexico, the United States, Brunei, Singapore, Japan, Canada and Vietnam.
Loayza said now was the time for Malaysia and Peru to explore opportunities in each other's markets as they would benefit immensely once the trade pact was enforced.
He also said that this year marked the 30th anniversary of Malaysia-Peru diplomatic ties.
"After 30 years of solid relations, our ties are not going anywhere but forward and stronger too," he added.
Malaysia and Peru established diplomatic relations in 1986.
Bernama
Tue May 10 2016
TPPA is the first free trade agreement that ties Malaysia and Peru, who are members of the pact, together.
PRK Kuala Kubu Baharu saksikan pertandingan empat penjuru
Keempat-empat calon itu ialah Khairul Azhari Saut (PN), Pang Sock Tao (PH), Nyau Ke Xin (Bebas) dan Hafizah Zainudin (Parti Rakyat Malaysia).
3 maut, 5 parah nahas dua pacuan empat roda
Tiga maut, lima parah dalam kemalangan membabitkan dua kenderaan pacuan empat roda di Jalan Kuala Krai-Gua Musang kira-kira jam 12.30 pagi tadi.
Penunjuk perasaan pro-Palestin di Paris kepung universiti
Penunjuk perasaan pro-Palestin mengepung bangunan dan kawasan hadpaan Universiti Sciences Po yang berprestij di Paris pada Jumaat.
Piala Thomas: Zii Jia pamer magis tarik perhatian ramai di Chengdu
Zii Jia merekodkan kemenangan ke atas Lee Cheuk Yiu dalam aksi yang mengambil masa 45 minit menghadirkan saat-saat terbaik dalam saingan pembukaan ini.
Youth All Girls raih gangsa di Amerika Syarikat
Pasukan sorak Malaysia Youth All Girls raih gangsa di The 2024 International Cheer Union World Cheerleading Championships (ICU JWCC) di Florida, Amerika Syarikat pada Khamis.
Perkembangan proses penamaan calon PRK Kuala Kubu Baharu
Pilihan Raya Kecil (PRK) Dewan Undangan Negeri (DUN) Kuala Kubu Baharu (KKB) membuka tirai hari ini dengan bermulanya proses penamaan calon pagi tadi di Dewan Serbaguna Dan Kompleks Sukan Daerah Hulu Selangor.
Firdaus Azil ada perincian untuk dikongsikan jam ini.
Firdaus Azil ada perincian untuk dikongsikan jam ini.
Malaysia-China bincang perkukuhkan kerjasama sektor pendidikan
Malaysia dan China membincangkan inisiatif strategik bagi memperluas serta memperkukuh jalinan kerjasama sektor pendidikan tinggi antara Kuala Lumpur-Beijing sempena sambutan ulang tahun ke-50 hubungan diplomatik Malaysia-China.
Perdana Menteri ke Riyadh sempena mesyuarat khas Forum Ekonomi Sedunia
Perdana Menteri Datuk Seri Anwar Ibrahim akan mengadakan lawatan kerja ke Riyadh, Arab Saudi sempena mesyuarat khas forum sedunia World Economic Forum (WEF) bermula 27 hingga 29 April ini.
Kerajaan Persekutuan kaji cadangan wujud hospital di Pengerang - Azalina
Hospital tersebut akan memudahkan penduduk mendapatkan rawatan memandangkan Pengerang semakin pesat membangun.
Pusat penamaan calon PRK Kuala Kubu Baharu ditutup
Pusat penamaan calon bagi Pilihan Raya Kecil (PRK) Dewan Undangan Negeri (DUN) Kuala Kubu Baharu (KKB) ditutup tepat pada pukul 10 pagi selepas dibuka 9 pagi ini.