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Peruvian President Pedro Kuczynski welcomes Australian Prime Minister Malcolm Turnbull to the opening session of the 2016 APEC summit, Lima, Peru, Nov. 20, 2016 (AP photo by Martin Mejia).

With the TPP in Limbo, Australia and Peru Cement Their Own Free Trade Deal

Thursday, Nov. 30, 2017

On Nov. 10, Australia and Peru concluded a free trade agreement while leaders of both countries were attending the Asia-Pacific Economic Cooperation summit in Vietnam. Free trade negotiations between the two countries began in May following the U.S. decision to abandon the Trans-Pacific Partnership, the major multilateral free trade deal that involved 11 other Pacific Rim countries, including Australia and Peru. In an email interview, John Edwards, a nonresident fellow at the Lowy Institute and adjunct professor with the John Curtin Institute of Public Policy at Curtin University, explains why Australia and Peru moved forward with their own free trade agreement, how its terms differ from those of the TPP, and which industries stand to gain and lose from the deal.

WPR: Australia does not count any Latin American countries among its top 10 trading partners. Why did it decide to sign a free trade agreement with Peru, and what does this move signal about Australia’s trade outlook? ...

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