Andina

Trade Min confident Peru-U.S. trade ties to remain very strong, powerful


Exportaciones Puerto Callao DP WORLD

Exportaciones Puerto Callao DP WORLD

00:01 | Lima, Mar. 13.

Foreign Trade and Tourism Minister Eduardo Ferreyros expressed confidence the commercial relations between Peru and the United States will remain "very strong and powerful," regardless of the current global trade environment.

As is known, U.S. President Donald J. Trump last week signed an order imposing a tariff of 25% on steel and 10% on aluminum, which has aroused fears of a protectionism wave in global trade.

"We are confident the trade relationship between Peru and the United States will remain very strong and powerful. It is our main buyer of non-traditional products," Ferreyros told Andina news agency.

According to Peru's private-run Foreign Trade Society (ComexPeru), non-traditional shipments to the North American market accumulated a 97% growth since the Peru-U.S. FTA took effect, in the period comprised between February 2009 and December 2016.

In this sense, the value of non-traditional exports to the U.S. grew at an average annual rate of 10.2% in the aforementioned period, increasing from US$1.568 billion to US$3.090 billion.

"We rely on a very solid foundation which is the bilateral Free Trade Agreement with the United States," Ferreyros underscored.

Similarly, Peru's total exports to the American market grew 30% eight years after the FTA came into force, ComexPeru pointed out.

Trump visit

It must be noted the White House on Saturday confirmed the presence of President Trump in the 8th Summit of the Americas to be held in Lima on April 13-14, 2018.

(END) MDV/JJN/JAA/MVB


Published: 3/13/2018