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APEC PERU 2008 | 22 November, 2008 [ 17:10 ]

Peru: APEC Summit Became "Ideal Scenario" for Trade Deals


Living in Peru
Vanessa Castro Chesterton

The APEC Summit in Peru has become the "ideal scenario" to sign several trade deals to counter the global financial turmoil, Peru’s first vice-president Luis Giampietri said on Saturday.


Luis Giampietri, the chairman of the APEC Peru High-Level Commission went on to say that hosting this meeting in Peru has a special resonance with the announcement of free trade deals between APEC member economies.


Giampietri noted the conclusion of free trade negotiations between China and Peru during the APEC Leaders’ Week. 


He said this trade pact is very important because it would open up a large market for quality Peruvian products.

 

In addition, he stressed the fact that Canada has signed a free trade deal with Colombia, despite the fact that the Andean country is not a member of this forum but has expressed its desire to join the economic bloc when the moratorium expires in 2010.


He highlighted that Peru has reached an investment protection agreement with Japan and that both countries has announced the start of negotiations for a two-way free trade pact.
 
Giampietri also highlighted the launch of free trade talks between Peru and South Korea for 2009.
 The APEC is comprisde by Australia, Brunei, Canada, Chile, China, Hong Kong, Indonesia, Japan, South Korea, Malaysia, Mexico, New Zealand, Papua New Guinea, Peru, the Philippines, Russia, Singapore, Taiwan, Thailand, the US, and Vietnam.

News source: Andina

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