Peru FTA inked in quick time

China yesterday signed a free trade agreement (FTA) with Peru covering commodities, services and investment - the second in Latin America following the pact inked with Chile in 2005.

Under the agreement, the two countries will gradually lower tariffs to zero on about 90 percent of goods.

Peru will open 90 areas to investors including mining, education, traditional Chinese medicine and martial art, while China loosens limits on 16 sectors such as mining, consulting, tourism and physical education.