Living in Peru : your everyday companion

(LIP-ir) -- Peru's Minister of Tourism and Foreign Trade Mercedes Aráoz, announced that the first round of negotiations between Peru - Canada for a Free Trade Agreement (FTA) will begin today. She pointed out that this will be especially beneficial in the farming and textile sectors.

"As we announced last June, [on July 16] we will begin negotiations with Canada, a country with which we have already signed a Foreign Investment Protection and Promotion Agreement (FIPA)," stated Peru's Minister of Foreign Trade.

Minister Aráoz explained that Peru and Colombia will progress together in these negotiations but in the end there will be two separate and independent treaties. Currently Peru is negotiating Free Trade Agreements with Canada, the United States and with the European Free Trade Association (EFTA).

Aráoz also pointed out that Peru's commercial agreement with Canada would consolidate the participation of the products that already enter the Canadian market, such as: the farming and textile sectors, asparagus, vegetables, canned fruits and products made of cotton.

She added that the agreement would also allow more of Peru's products, such as wooden furniture and jewelry, into the Canadian market.

Trade between Peru and Canada rose by 52.6 percent in 2006. "In 2006 Peru exported $1.5 billion and imported $292 million. By May of this year, Peru had sold Canada $628 million [worth of products]," stated Aráoz.

It has been confirmed that 200 negotiators will participate from July 16 - 20. Negotiations are to be held at Pacífico University in Lima, Peru.

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