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Peru-EU FTA to come into effect January 2012

Andina | 18 Jan 2011

Peru-EU FTA to come into effect January 2012

Lima, Jan. 18 (ANDINA). The Free Trade Agreement (FTA) between Peru and the European Union may come into force in January 2012, the Ministry of Foreign Trade and Tourism (Mincetur) announced Tuesday.

“The European Union is composed of 27 countries and every nation must agree on this FTA. We are trying everything so that this agreement comes into effect as soon as possible, but a likely date might be January 2012”, Deputy Minister of Foreign Trade Carlos Posada stated.

The completion of negotiations for this FTA with the European Union occurred last May during the Sixth Summit of Heads of State and Government of the European Union, Latin America and the Caribbean (EU-LAC).

The European Union has become an important commercial partner for Peru. Projections and exporting capacity will be even greater after the entry into effect of this FTA.

“Once the FTA with the European Union comes into effect, Peruvian exports to the European bloc may increase between 30 to 35 percent”.

Peru is already getting a lot of investment from Europe, especially from Spain, Italy and Germany, but a free trade agreement will definitely give more security to entrepreneurs interested in investing in the country.

 source: Andina