Peru – South Korea Free Trade Agreement Update


On August 30, 2010, the Governments of the Republics of Peru (“Peru”) and Korea (“South Korea”) announced the conclusion of negotiations for a Free Trade Agreement (“FTA”) between the two countries, which is expected to enter into full force in mid-2011 after the conclusion of each country’s internal ratification procedures.

Currently, both countries’ legal teams are fine-tuning the final text of the FTA. Peruvian officials are targeting next November’s meeting of the Asia-Pacific Economic Cooperation, to be held in Japan, for the signing of the FTA.

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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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