New free trade agreement expected to double commerce between Peru and Guatemala



Eduardo Ferreyros, Peru’s minister of foreign trade and tourism. (Photo: Andina)

Peru’s new free trade agreement with Central America, set to take effect in 2010, will double commercial exchange between Peru and Guatemala, the second largest destination for Peruvian exports in the region.

Peru’s minister of foreign trade and tourism, Eduardo Ferreyros, said that last year Peru’s exports to Guatemala reached $51 million, while the imports from Guatemala were at $76 million. This exchange is expected to double, to a total of about $254 million, in the next three years.

“We will see higher levels of exports and imports between our countries, and also higher levels of investment,” Ferreyros said in a business forum in Guatemala, the first event of Peru’s Central America exposition. Thirty-five Peruvian companies—mostly manufacturers of construction materials, plastics, preserves, car parts and processed foods—are participating in the event, which culminates this Friday in Costa Rica.

President of Guatemala’s chamber of commerce, Jorge Briz Abularach, said that Peruvian investments in his country total $35 million and generate 3,000 jobs.

Ferreyros said that the free trade agreement negotiations should be finished by May and will take effect in 2012. Export director for PromPerú, Peru’s agency for promoting exports and tourism, said that his institution would sign agreements with the Guatemalan and Costa Rican chambers of commerce, in order to strengthen integration with these two markets.