Peru says it has signed a free trade agreement with South Korea after two years of negotiations.
Government news agency Andina quotes Foreign Trade Minister Eduardo Ferreyros as saying he expects both countries’ parliaments to ratify it by July.
Ferreyros says tariffs would immediately disappear for Korean televisions and certain automobiles. Peruvian coffee would benefit equally in Korea.
The agreement was signed Monday in Seoul.
Peru has recently enacted free trade agreements with China, Singapore, Canada and the United States.
Peru exported $895 million in goods to South Korea last year. Imports from South Korea were $1 billion.
Ferreyros also said Peru expects to complete a trade deal with Japan soon.