Peruvian minister Eduardo Ferreyros told EFE the first round of conversations will take place in Peru's capital Lima, from July 5 to 7.

"We hope to make quite rapid progress because we are basically complementary economies and the idea of this pact is to deepen trade and investment ties between our countries," he added.

His Australian counterpart Steve Ciobo said in a statement that Canberra wants a high quality, comprehensive agreement with Lima and to remove the high tariffs on Australian exports to Peru.

Beef exports carry a levy of 17 percent, while dairy and sugar exports face tariffs of 29 percent.

Australia is also keen on exporting services in sectors such as mining, finance, education, health and tourism.

Ferreyros said Peru will try to secure access to the Australian market for its agricultural products and textiles.

Trade between the two countries was worth around $375 million in the 2015-16 fiscal year, a rise of 19.4 percent with respect to the previous year, Ciobo said.
 

Source: efe.com