09:02 | New Delhi (India), Mar. 20.
Foreign Trade and Tourism Minister Desilu Leon on Wednesday highlighted the importance of reaching a trade agreement with India, as it will boost Peru's value-added exports to the South Asian country.
The Peruvian government official emphasized the importance of concluding the trade agreement negotiations between the South American country and India as a key tool to boost trade between both countries.
During the Ministerial Session on Strengthening India-LAC Partnerships in a Changing Global Environment —led by
India's Commerce and Industry Minister Piyush Goyal—
Minister Leon emphasized the importance of negotiating new trade agreements as a key tool to boost trade and investment flows between India and Latin America & the Caribbean.
The Cabinet member stated that trade relations between Peru and India are primarily driven by the exchange of goods, particularly minerals.
"However, a trade agreement will open the door to exports of higher value-added goods and an increase in service exports," she noted.
The government official underscored that a trade agreement between Peru and India could also significantly boost Indian investments in the South American country.
According to the minister, "this agreement would ensure that Indian companies do not face restrictions on the number of operations they can conduct, nor be required to adopt specific legal entity types."
"In Peru's case, our trade liberalization policy has strengthened regional integration and solidified our presence on the global stage," Leon stated.
She also highlighted the complementarity of Peruvian and Indian economies, which has led to a significant increase in bilateral trade and investment in strategic sectors such as mining, pharmaceuticals, and the automotive industry.
Latin America's Logistics Hub
Furthermore, the government official emphasized Peru's strategic role as a logistics hub in Latin America.
"We offer Indian companies preferential access to the region and an ideal platform to expand their operations in the Latin American market," Leon stated, inviting Indian business leaders to consider our country as an attractive investment destination.
The Cabinet member stressed that Peru offers a favorable environment for foreign direct investment, characterized by strong macroeconomic stability, preferential access to global markets, and a regulatory framework that supports international capital.
"The 22 trade agreements we maintain create a favorable environment for Indian companies to develop their operations in Peru," she mentioned.
Through her participation in this conclave, the minister reaffirmed Peru's commitment to strengthening its trade relationship with India, opening new opportunities for economic development and collaboration between both nations.
Meeting with El Salvador's Minister
At this gathering, they had the opportunity to advance discussions ahead of the First Round of Negotiations for the signing of a Free Trade Agreement between both countries, set to take place next week.
The activities were attended by Peru's Ambassador to India, Javier Paulinich, along with officials from Mincetur and the Trade Office in India.
In 2024, bilateral trade between Peru and India reached a record high of nearly US$5.8 billion, with Peruvian exports totaling US$4.717 billion, primarily driven by gold, which accounted for US$4.649 billion.
Peru stands out for its competitive advantages in food production and has emerged as one of the world's leading suppliers of high-quality, sustainable agricultural products, such as grapes, asparagus, quinoa, blueberries, avocados, Amazonian nuts, and mangoes.
(END) NDP/MDV/MVB
Published: 3/20/2025