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Ma calls for signing FTA between Taiwan and Peru

CNA | November 20, 2008

Ma calls for signing FTA between Taiwan and Peru

LIMA, Peru — President Ma Ying-jeou expressed the hope of signing a free trade agreement (FTA) with Peru to enhance bilateral trade, in an interview with a Peruvian business newspaper published Tuesday.

The newspaper, Gestion, ran a full page on the interview with Taiwan’s president, in which he talked about Taiwan-Peru relations and the leadership summit of the Asia Pacific Economic Cooperation (APEC) forum to be held in Lima, Peru, Nov. 22-23.

Ma said that Taiwan is keen on strengthening its relations with Latin American countries, and expressed his hope that Taiwan can sign a free trade agreement with Peru.

The president noted that bilateral trade between Taiwan and Peru has shown steady growth in recent years, increasing to US$200 million with Peru enjoying a trade surplus, compared to less than US$50 million five years ago.

He also said that though no formal meeting has been planned between his envoy, former Vice President Lien Chan, and Peruvian President Alan Garcia, he was sure the two would have the opportunity to talk to each other during the summit.

Ma also talked about the recent financial crisis, saying that he is confident Taiwan will weather the storm.

He noted that Taiwan has a low inflation rate, and that its foreign exchange reserves of nearly US$280 billion is the world’s fifth largest.

Taiwan also has low foreign debt, a high saving rate and sound economic fundamentals, he added.

 source: China Post