Japan and Peru are expected to sign a bilateral free-trade agreement Tuesday when Peruvian Foreign Minister Jose Antonio Garcia Belaunde visits Tokyo.
The pact, under which Peru will immediately lift tariffs on Japanese products, including large vehicles and TVs, will take effect after being inked and then ratified by the Diet and the Congress in Lima. Japan hopes the FTA will put the brakes on a significant ebbing of market share for Japanese cars in the country.