Peru and Thailand
initiated talks towards expanding trade relations in
July 2002. In October 2002 Peru and Thailand
agreed to set out a framework agreement towards a
bilateral free trade agreement (FTA). On 17 October
2003, a Framework Agreement towards an Economic
Association was signed. This agreement initiated
negotiations towards a free trade agreement.
The Framework Agreement was ratified by the Peruvian
Congress on 3 December 2004 and promulgated on 23
December 2004. The government of Thailand ratified
the agreement on 18 October 2005.
The first round of negotiations towards a
free trade agreement took place in Bangkok,
Thailand, on 29-30 January 2004. After seven rounds
of negotiation, a Protocol to Accelerate the
Liberalization in Trade in Goods and Trade
Facilitation was signed on 19 November 2005.
This Protocol encapsulates progress made in the FTA
negotiations. The two countries later signed an Additional Protocol to the Protocol on 16 November 2006. The Second Additional Protocol to the Protocol of the agreement was signed on 13 November 2009 in Singapore. On 18 November 2010, the Third Additional Protocol to the Protocol was signed in Bangkok.
Peru and Thailand held the VIII round of negotiations of an FTA from 26 to 28 March 2012, in Lima, Peru. Both countries agreed to review the chapters of the FTA in force, considering the possibility of including, among others, topics such as intellectual property, government procurement, competition policy, services and investment.