Peru-India trade talks to start in first half of this year

The Dollar Business Bureau

The first round of negotiations on Peru-India trade agreement is going to take place during the initial six months of 2017, said Edgar Vasquez, Vice Minister of Foreign Trade, Peru.

“Peru can be a very attractive destination for investors from India as the country has a predictable, stable and transparent regime for international investors,” he said while addressing a session jointly organised by Federation of Indian Chambers of Commerce and Industry (FICCI) and Embassy of Peru in India on Wednesday in New Delhi.

“There are many sectors that are opened by Peru government for trade and investment, he added.

Speaking at the session, Ashok Das, Joint Secretary (LAC) in the External Affairs Ministry, said that both the countries were having negotiations on a framework to strengthen trade and investment ties as there was huge potential to promote bilateral relations.

Though the trade figures between the nations have been impressive the numbers could rise considerably once the trade pact comes into place, he added.

Das said that the two countries could also look for joint projects possibilities in bilateral and multilateral contracts while adding that active mechanisms are in place for periodically exchanging ideas between the sides.

In September last year, Peru and India concluded a joint feasibility study for a pact in trade in goods & services, investment and bilateral cooperation. The study showed the potential to expand bilateral trade between the two countries. It also found out that the two economies were complementary.