Peru–China FTA Upgrade Enters into Force, Adjusting Trade Rules for Squid and Fishmeal

Lima/Beijing — The upgraded protocol to the Peru–China free trade agreement officially entered into force on Sunday, November 1, 2026. The regulatory document updates the bilateral trade framework between the two countries through targeted improvements in customs procedures, certificates of origin, sanitary cooperation and logistics management. Peru completed the domestic legal implementation of the protocol through Supreme Decree No. 012-2026-MINCETUR.

The upgraded protocol, originally signed in Lima on November 14, 2024, is a modernization of the original bilateral free trade agreement that took effect in March 2010.

The weight of the Chinese market for Peru's seafood industry is the reason the rule adjustments have drawn attention. According to data published by Peru's national health authority Sanipes and released via Peru's official gazette El Peruano, China imported US$1 billion worth of Peruvian aquatic biological products in the first half of 2026. Over the same period, fishmeal and frozen jumbo flying squid (茎柔鱼) (scientific name Dosidicus gigas, known locally in Peru as pota) ranked among the top Peruvian seafood exports to all global destinations, with export values of US$792 million and US$523 million respectively. Both figures are total shipments to all export markets worldwide, not exports to China alone.

Jumbo flying squid and fishmeal belong to two different commercial categories in bilateral trade: products for direct human consumption and feed-grade raw materials. For seafood exporters, processors and importers, the main operational value of the protocol lies in establishing more transparent and more predictable standards for trade documents, international shipping routes and customs clearance procedures.

China's Ministry of Commerce (MOFCOM) stated that the upgrade revises 7 existing chapters of the original agreement and adds 5 entirely new chapters covering e-commerce, global supply chains, and standards, technical regulations and conformity assessment procedures. The protocol also sets binding provisions on the exchange of technical information, expedited release of goods and special customs clearance treatment for perishable seafood consignments.

On rules of origin, the updated legal text clarifies the conditions under which goods retain originating status when transiting through the territory of a third country: transit, transshipment and bonded warehousing are permitted for a maximum of 3 months, provided the goods are under strict customs supervision and it is formally verified that no operations other than standard unloading, reloading or preservation treatment needed to maintain product integrity have been carried out. Documentary evidence of these transshipment conditions is of practical significance for supply chains using intermediate international hub ports.

For industrial and artisanal fishing enterprises, this rules framework provides an updated compliance benchmark for reviewing certificates of origin, logistics routes and shipping manifests. The ultimate impact on clearance times and logistics costs depends on the actual implementation of procedures, product form and the logistics circumstances of specific consignments; the protocol's entry into force does not by itself automatically guarantee immediately shorter customs clearance processing times.

For international trade in jumbo flying squid and fishmeal, this milestone opens the procedural implementation phase. Tariff preferences applicable to different trade forms must be verified item by item against the corresponding customs tariff codes, while mandatory rules of origin and biosafety/sanitary compliance standards must also be met.