Indian Ambassador to Peru, Manpreet Vohra, indicated the negotiations aimed at reaching a Free Trade Agreement with Peru (FTA) will start on the second half of the current year.
If reached, the FTA would "concretize" during the second half of 2016, the Ambassador forecasted.
According to the diplomat, Peru means a "great market for India" and a "great opportunity," as well.
In the last four years, the commercial exchange between Peru and India has "nearly doubled." It is the reason why the Asian nation considers "relevant" to start negotiations for reaching the subscription of a Free Trade Agreement, he expressed.
In this sense, Peru would become the first Latin American country to ink a complete agreement with India.
Peru is considered one of Latin America's strongest economies "open" to foreign trade. Its expansion rate was also highlighted.
The diplomat explained the subscription of a FTA will enable to increase trade between both nations.
From January to November 2014, it totaled US$1.014 billion.
If signed, it will lead to a 4, 5-fold increase, he indicated.
On the other hand, Indian investments in Peru currently reach US$70 million.
Those are in the sectors: mining, information technologies and pharmaceutical industry.
(END) RGP/JJN/MVB
Published: 3/26/2015