Peru, EU ambassadors speed up FTA approval

Peru’s Minister of Foreign Trade and Tourism Jose Luis Silva noted that he met with ambassadors of some countries of the European Union (EU) with the main purpose to speed up the approval of the bilateral Free Trade Agreement (FTA) signed between Peru and the European bloc.
Minister Silva said that the agreement is still being translated into all 21 official languages of the European Union. Then, the agreement must be approved by their respective congresses.

Initial negotiations on this trade agreement began in 2009 and ended on February 28, 2010 after nine rounds of negotiations.

Last April, EU Commissioner for Trade Karel de Gucht, Colombian Trade Minister Sergio Diaz, and Peru’s Deputy Minister of Foreign Trade Carlos Posada officially signed the final document of the bilateral FTA between the European bloc and the two South American countries in Brussels (Belgium).

The European Union accounts for 20 percent of the world trade and is considered the world’s top exporter and second importer.

In turn, Minister Silva noted that FTA talks with Guatemala, under the FTA negotiations with Central America, are to be concluded soon.

Peru has already signed trade agreements with Panama and Costa Rica, and is still in negotiations with Guatemala, El Salvador and Honduras.

August 17, 2011

Source: Peruthiswekk.com