First round of Peru-India trade negotiations scheduled for first half of 2017

Addressing an interactive session organised by the Federation of Indian Chambers of Commerce and Industry (FICCI) and the Embassy of Peru here today, Edgar Vasquez, Vice Minister of Foreign Trade, Republic of Peru stated that the first round of Peru-India Trade Agreement Negotiations will take place during the first half of this year.

In his presentation on Trade and Investment Opportunities with Peru, Vasquez said that Peru could be a very attractive destination for Indian investors because the country had a stable, predictable and transparent regime for foreign investors. He added that Peru had many sectors open for trade and investment.

Ashok Das, Joint Secretary (LAC), Ministry of External Affairs, Government of India, said that India and Peru were negotiating a framework to boost trade and investment as there was immense potential to further bilateral relations. He added that though the bilateral trade figures have been impressive but this number could increase significantly once the trade agreement is in place.

Das further said that India and Peru could also explore possibilities of joint projects in multilateral and bilateral contracts. He added that active mechanisms were in place for periodic exchange of ideas between India and Peru.

At the meeting, industry leaders shared their experiences in doing trade with India and Peru.

In September 2016, Peru and India concluded the joint feasibility study for an agreement in trade in goods, services, investment and cooperation. This study revealed the potential of India to expand the bilateral trade with Peru and vice versa. It also concluded that both economies were complementary.