India confirms negotiations for trade agreement with Peru
The announcement was made by the Ambassador of India in Peru, Vohra Manpreet, to the Deputy Minister of Foreign Affairs of Peru, José Beraún.
It is hoped that the Peruvian official travels to India in July in order to "strengthen relationships in general" between both parties.
Furthermore, it is expected "the necessary boost is granted to bilateral trade and cooperation within the framework of the future preferential agreement," predicted the Ministry of Foreign Affairs.
The trade pact, which could be developed as fast track negotiations, "will further deepen" the trade with India.
Last year trade between the two countries increased more than 71 per cent, reaching USD 800 million.
And in the first two months of this year, Peruvian exports to Indian market generated USD 112 million in revenue, over 45 per cent of the total achieved in 2011.
"This growth demonstrates the potential of the business relationship and the opportunities existing in the Indian market for Peruvian product exports such as minerals, grapes, fishmeal, among others," said the Peruvian Foreign Ministry.
Source: www.fis.com