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Singapore, Peru complete talks for free trade pact SINGAPORE - Singapore and Peru have successfully concluded negotiations for a free trade pact that is to cover all goods traded between the two countries, their trade ministers said Tuesday. More than 87 percent of the city-state's total exports to Peru are to benefit from the agreement's duty-free treatment as soon as the pact goes into effect. Tariffs for the remainder are to be phased out over a 10-year period, a joint statement said. Mercedes Araoz, Peru's minister for foreign trade and tourism, and Lim Hng Kiang, Singapore's trade minister, met on the sidelines of the 21-nation Asia-Pacific Economic Cooperation ministerial meeting in Sydney. |
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