Peru Targets April Signing For Mexican FTA

Peru’s Vice Minister of Foreign Trade, Carlos Posada has said that the government is doing its utmost to achieve the signing of the Free Trade Agreement being negotiated with Mexico, stating that an April signing is workable if the countries can agree final terms.

The Minister was quoted by the state news agency Andina as saying that the Agreement is in its final closing stages; that the vast majority of goods to be granted preferential treatment have been agreed; and - while the text still requires legal adjustments, and the addition of a few further clauses - it is already being approved by the Peru’s legislative assemblies.

"I hope that Mexico can meet the request of Peru for many products that are of importance, among them are agricultural and agro-industrial products such as paprika, fish meal, coffee, or quarter-chicken, turkey, among others.”

"I have actually had talks with Vice-Minister of Foreign Trade of Mexico, and he said they are making progress in the consultations. We hope that meet our requests and thus we would be closing the deal,” Andina quoted Posada as saying.

He explained that the government is eager to pass the deal before the end of the government’s current term, and ideally before Mexico approves other Free Trade Agreements currently under consideration with Brazil and Colombia.

Posada said that the Free Trade Agreement, which is expected to boost bilateral trade by around 300%, would benefit Peruvian exporters of wood, clothing, Peruvian industrial producers and the agribusiness in particular.

The Minister stated that if approved in April, the Agreement could enter into force as early as August 2011.

Source: tax-news.com