While in Lima, Ms. Guergis met with Peru’s Minister of Foreign Affairs, José Antonio García Belaúnde, as well as the Minister of Foreign Trade and Tourism, Mercedes Aráoz Fernández.
"Peru is an important and growing market for Canada," stated Ms. Guergis in a keynote speech delivered at a luncheon hosted by the Canada-Peru Chamber of Commerce and several partner commerce associations in Lima on July 23.
Over the last three years, Canada’s trade with Peru has expanded, reaching $288.5 million in exports to Peru and $2.1 billion in imports last year.
The stock of Canadian foreign direct investment in Peru reached $2.9 billion in 2006. Canada is the largest foreign investor in Peru’s mining sector, and Canadian companies are active investors in the country’s banking, oil and gas, telecommunications and printing sectors.
On June 7, 2007, the Honourable David Emerson, Minister of International Trade, announced the launch of free trade negotiations with the Andean Community countries of Colombia and Peru. The first round of negotiations took place in Lima the week of July 16.