Japan-Peru Economic Partnership Agreement

2. The importance of the Peru Agreement is Japan`s 53rd largest export partner and 36th largest import partner (Trade Statistics 2019, Ministry of Finance). Peru is one of the most important countries to maintain the policy of stability of the free economy in Latin America, where it has recently attracted attention due to the abundance of natural resources and rapid economic growth. Trade liberalization and facilitation, investment promotion and the maintenance of the system in related areas will contribute to expanding trade opportunities and strengthening not only economic relations, but also the overall relations between Japan and Peru. The Economic Partnership Agreement (EPA) between Japan and Peru entered into force on 1 March 2012. This document provides general information on the importance of this agreement, mainly from the Peruvian point of view. It focuses on the following themes: statistical trends showing the decline in Peru`s share of Japan`s trade and investment flows with Latin American countries between the mid-1970s and mid-2000s, the main factors explaining such a deterioration in Peru`s economic position during this period, the changes in the trade strategy in the two countries since the 2000s and in the EPA negotiation process and some other main results, as set out in the text of the agreement. Keywords: Peru, Japan, FREE TRADE AGREEMENT JEL classification: F13, F14, P45 3. The main elements of the agreement (1) Trade in goods: agreement on a substantial reduction and reduction of customs duties on industrial and agricultural products in the context of bilateral trade. (2) Customs procedure and trade facilitation: provisions to ensure the transparency of customs procedures, the proper application of customs legislation, the framework for the rapid clearance of goods and the promotion of bilateral cooperation and exchange of information. (3) Technical rules, standards and conformity assessment procedures: rules on international standards, binding standards, conformity assessment procedures, technical cooperation, transparency, exchange of information, etc., in order to extend and promote trade between two countries. (4) Cross-border trade in services: Agreement on equal treatment in national treatment, most-favoured-nation status and market access for service providers from the other signatory State in areas other than those referred to in the Annex. (5) Telecommunications services: ensuring equitable access to telecommunications infrastructure, number portability, processing by large providers, etc., for service providers from the other signatory State.

(6) Entry and temporary stay of a person for business purposes: rules on the authorisation of entry and temporary stay of persons from the other signatory State for commercial purposes, simplification of conditions and procedures and improvement of transparency. (7) Intellectual property rights: ensuring adequate, effective and non-discriminatory protection of intellectual property rights, well beyond the WTO level of commitment. (8) Improvement of the business environment: provisions to improve the business environment, establishment of a subcommittee, designation of the liaison office, etc.9. Cooperation: bilateral cooperation in 8 areas (promotion of trade and investment, industry, fisheries, science and technology and environment, information and communication technologies, tourism, agriculture, transport and other areas by mutual agreement between the Contracting Parties). Summary of the Agreement JPEPA encourages the liberalization and facilitation of trade in goods and services between Japan and the Republic of Peru, thereby strengthening the bilateral partnership in economic activities while strengthening cooperation in various fields, including competition and intellectual property. The Minister of Foreign Affairs, Mr. Takeaki Matsumoto, met with the Peruvian Minister of Foreign Trade and Tourism, Eduardo Ferreyros Kuppers, at the Ministry of Foreign Affairs, where they signed the Economic Partnership Agreement that makes Peru the 13th nation and the newest from India, to sign an agreement with Tokyo to facilitate trade. . . .