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Peru president in US to sign FTA

Peru President in US to Sign FTA

Lima, Apr 11 2006 | Prensa Latina

Peru’s President Alejandro Toledo is in the United States for four days, during which he and George W. Bush will be present to sign a free trade treaty in spite of considerable Peruvian demands against it.

The congressional Permanent Committee approved the Executive petition 11-3-1 Monday, also supported by Cabinet chief Pedro Pablo Kuczynski.

Although Foreign Trade and Tourism Minister Alfredo Ferrero will actually sign the treaty, the head of State will be present, given the importance of the act.

Kuczynski said that after signing the treaty must then be approved by both legislatures.

However, the National Election Jury is sending a bill to Congress to submit the treaty to a referendum after confirming validity of the 59,887 signatures demanding this.

Although, after 13 rounds of negotiation, the treaty will consolidate tariff benefits under the Andean Trade Promotion Law and the Drug Eradication legislation in effect until the end of the year, many Peruvian sectors believe it to be prejudicial to agriculture.

 source: Prensa Latina