Andina

Peru, India complete 4th FTA negotiation round

15:40 | Lima, Mar. 15.

Peru's Foreign Trade and Tourism Minister Edgar Vasquez on Friday informed the fourth business round with India —aimed at reaching a free trade agreement (FTA) between both countries— has concluded.

The meetings took place in Lima on March 11-15. 

Delegations from the two nations addressed markets access (tariffs), services trade, investments, and movement of people, among other topics.

"This round has been very fruitful (…)," the cabinet member expressed in this sense.

Likewise, the official pointed out Peru is the first Latin American economy that has begun FTA negotiations with India, which also cover services trade, movement of people, and investment.

Furthermore, Minister Vasquez indicated a future trade agreement with India represents a huge potential for Peruvian exports from the agro, chemical, and metal-mechanical sectors. 

He went on to add they expect to generate partnership opportunities for services companies from both countries and bring more Indian investments into Peru.

"We are coordinating with India in order to organize a (business) round as soon as possible and to continue the works aimed at reaching a trade agreement," the official said. 

On the occasion, more than 10 public sector's institutions participated in the meeting such as the Ministries of Foreign Affairs, Economy-Finance, Agriculture-Irrigation, and Labor-Employment, as well as the National Customs and Tax Administration (Sunat), National Agricultural Sanitation Service (Senasa), Private Investment Promotion Agency (ProInversion), and General Directorate of Medicines, Inputs and Drugs (Digemid). 

(END) JJN/DTK/MVB

Published: 3/15/2019