Australia/Peru FTA kicks in
PERTH (miningweekly.com) – The Minerals Council of Australia (MCA) has welcomed the enforcement of the Peru-Australia Free Trade Agreement (PAFTA), providing Australian businesses with a gateway to Latin America.
Under PAFTA, Peru will eliminate 99.4% of its tariffs, including on valuable Australian resources such as iron-ore, copper, nickel, coal, mineral fuels and oil.
The agreement also removes barriers for Australian mining equipment, technology and services (METS) and reduces trade costs through more streamlined customs and administrative arrangements.
MCA CEO Tania Constable said on Wednesday that this new access for Australia’s minerals industry would drive exports and help create new highly skilled and high paid jobs.
“Australian mining commodities and METS dominate the $656-million trading relationship with Peru. In 2018-19, eight of the top ten of Australia’s largest merchandise exports to Peru were METS or mining commodities.
“With Peru's rapidly growing middle class, there is significant opportunity to rapidly grow Australia’s economic relationship with Peru through PAFTA,” she said.
In 2018, Australia investment in Peru stood at $716-million, with Australian mining companies making major investments in exploration, operational mining activities and partnerships with local resource companies. PAFTA will help grow two-way investment, as the agreement provides greater certainty and stability.
Comments
The
functionality
you are trying to access is only available to subscribers.
If you are already a subscriber, you can Login Here.
If you are not a subscriber, you can subscribe now, by selecting one of the below options.
For more information or assistance, please contact us at subscriptions@creamermedia.co.za.
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation