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Egypt, Peru hold talks to sign trade agreement

Agencia Andina | 22 Jan 2011

Egypt, Peru hold talks to sign trade agreement

Lima, Jan. 22 (ANDINA). Egyptian Ambassador to Lima Hesham Khalil reported Saturday that Peru and his country are holding talks to sign a trade agreement that enables to increase trade between both nations.

"There’s a dialogue between Peru and Egypt aimed at signing a free trade agreement, which will be quite beneficial as it will enable Egypt to enter the South American market, through Peru, and will enable Peru to enter the Arab market, though Egypt,” he told Andina.

According to Khalil, the current trade balance between the two countries is between US$ 10 and 12 million annually, a level which he expects to be exceeded with the future trade agreement and the III Summit of South American and Arab Countries (ASPA) to be held in Lima.

The ambassador indicated that at present the main Peruvian export product to Egypt is fishmeal, while the Arab nation exports to the Peru textile products, ceramics, among others.

 source: Andina