Andina

Peru's FA Min: We aim to have an FTA with India approved in 2025

Photo: ANDINA/Daniel Bracamonte

17:00 | Lima, Nov. 18.

Foreign Affairs Minister Elmer Schialer on Monday estimated that next year a Free Trade Agreement (FTA) with India will be approved by both nations.

"We are aiming to have a Free Trade Agreement (FTA) with India approved by both parties early next year; that will be fantastic," he said during an interview Exitosa radio.

India —according to ADEX— was the fourth-largest destination for Peruvian exports in 2023 and the second within Asia, reaching US$2.531 billion with key exports like raw gold in the traditional sector and iron scrap in the non-traditional sector.

With this objective, Minister Schialer emphasized that the Chancay Port, recently inaugurated within the framework of APEC Peru 2024, is envisioned as a logistical hub. It will include the port, the new Callao airport, the Ancon industrial park, and the Chancay Special Economic Zone.

"We aim for these two locations, Ancon and the Chancay Special Economic Zone, to transform what we export, focusing on added value, that is the central goal here; industrialization of the country, and that is where our efforts are focused on," he stated.

Likewise, the ambassador highlighted the signing of the Free Trade Agreement (FTA) between Peru and Hong Kong, emphasizing its importance as a top-tier financial hub with a commercial strategy aimed at consolidating the flow of goods, services, and merchandise.

He explained that this region of the People's Republic of China serves as a gateway and multiplier for the reach of Peruvian products, noting that "not everything we export to Hong Kong stays there; it moves on to other destinations."

Additionally, the diplomat mentioned that a Free Trade Agreement with Türkiye is currently in the pipeline.

The Cabinet member also emphasized Japan's recent decision to lift the visa requirement for Peruvian tourists.

Minister Schialer recalled that this announcement was made by Japan's Prime Minister Shigeru Ishiba, during his official visit to Peru on November 17.

"Japan has announced that it has unilaterally lifted that requirement (visa) for holders of ordinary passports and for short-term visits, which we commonly refer to as tourism," he told RPP Noticias.

(END) FHG/CVC/MAT/MVB

Published: 11/18/2024