Japan to approve FTA with Peru, by end of year



Peru’s Minister of Foreign Trade and Toruism, Eduardo Ferreyros (Photo:Andina/Norman Córdova )

Minister of Foreign Trade and Tourism, Eduardo Ferreyros estimated the Japanese Congress will approve the Free Trade Agreement (FTA) with Peru, later this year.

"We are following procedure since the problems they have had in recent months, linked to geographical disasters, have made the Diet (Japanese Congress) not have much time to see this issue," he said to Andina news agency.

Ferreyros said conditions are suitable for the political body of Japan to approve the treaty, implying that it would be implemented by early 2012."Japan has made all possible steps that allow us to believe they want to accelerate this process," he said.

He also said the First Round of Negotiations of the Agreement on the Promotion and Reciprocal Protection of Investments between Peru and India, held in early July in New Delhi was productive.

"In this first phase negotiating positions and documents are exchanged. I would hope that these negotiations are completed soon to make way for negotiations towards an FTA," he said.

Ferreyros noted that one of the challenges the new minister will face is to finalize the FTA with Venezuela and the Trans-Pacific Partnership Agreement (TPP). "The latter is one of the most important agreements being negotiated now in the world, and will serve as the basis for the agreement with the Asia Pacific Economic Cooperation (APEC) forum," he said.