on Friday signed in Brussels the EU-Peru Memorandum of Understanding on an agenda of cooperation and reinforced political-sectoral dialogue for the next decade, as well as the Participation Framework Agreement of Peru in crisis management operations of the EU.
Both documents underscore our intention to further our long-standing ties.
"Peru is a key like-minded partner of the European Union. Today, we strengthen and modernize the framework of our bilateral relationship, in which we open new chapters of regular dialogue on key issues, such as ecological transition, cybersecurity, or illicit drug trafficking. The Participation Framework Agreement will allow the participation of Peru in crisis management operations and missions of the European Union," Borrell stated.
In turn,
Minister Landa affirmed that "the European Union is and has always been a partner and friend of Peru. By signing these two new instruments we reaffirm our shared will to continue strengthening our cooperation."
According to him, the Memorandum of Understanding will allow Peru and the EU to deepen our political dialogue and increase our cooperation ties on social, environmental, anti-drug, as well as science-innovation issues.
Similarly, it contains the mutual commitment to move towards a comprehensive political agreement in the future.
The Participation Framework Agreement constitutes an excellent platform to cooperate in a new field such as the EU's crisis management operations, in which Peru will be able to contribute voluntarily, according to its capacities and under the
United Nations Charter.
The Memorandum of Understanding establishes six priorities to guide the development of relations between the EU and Peru:
1. The economic, social, and digital agenda in the Republic of Peru and the European Union.
2. The environmental agenda —including the fight against climate change, the protection of biodiversity, and the promotion of a circular economy.
3. The human rights and democracy agenda, which includes the strengthening of democratic institutions.
4. The security and defense agenda, which includes the fight against organized transnational crime, as well as the active participation of the Republic of Peru in EU crisis management operations and missions.
5. The agenda of the fight against illicit drug cultivation and trafficking, as well as the mitigation of negative consequences on human beings, society, and the environment.
6. The solidarity agenda concerning the migratory crisis —in particular of Venezuelan refugees, as well as its impact on Peru and the region.
Within this framework, an imminent EU contribution of €14 million (about US$13.66 million) was announced to support Peru's ecological transition agenda.
The "Sustainable Businesses for an Inclusive Circular Economy" project is at the core of the Team Europe Circular Transition Initiative, developed in close coordination with EU Member States to intensify the transformative impact in greening Peru's economic system.
"It will also promote deforestation-free supply chains. These are perfect examples of what Peru and the EU want to achieve together within the framework of the Memorandum of Understanding signed today," she stressed.
Background
The EU maintains long-standing relations with Peru. These milestones include the 2009 EU-Peru Memorandum of Understanding, the 2013 Trade Agreement, and a 2016 short-term visa waiver agreement.
Peru is an important partner in multilateralism, climate change, and other key priorities such as peace and stability.
The EU is Peru's third-largest trading partner —after the United States and China. Similarly, it is the largest source of FDI and an important development partner.
The EU is the largest foreign direct investor in Peru —with €15 billion (about US$14.61 billion) in investment.
It is also the third-largest trading partner —after the United States and China— with bilateral merchandise trade amounting to €10 billion (about US$9.74 billion), which has improved from pre-pandemic levels.