Andina | 4 June, 2009

Canada’s Lower House approved FTA with Peru

The Lower House of Canada Congress approved this week the Free Trade Agreement (FTA) signed with Peru, which shall come into force in July this year, reported Thursday Peruvian Trade Minister Mercedes Araoz.

"The FTA will pass though the Canada Upper House or Senate to be approved without problems I think, so it is expected to come into force starting this July," she said.

It is worth mentioning that Peru-Canada FTA was signed in May last year, in addition to two agreements on Labor Cooperation and Environment, in order to promote bilateral practices and assistance.

During the negotiation rounds, Peru and Canada discussed bilateral market access for goods, services, investment, public procurement issues, among other topics.

The agreement is focused on socially responsible investing, in which Peru will benefit from the experience of Canada in forestry and sustainable development, said the Peruvian minister.

"This will undoubtedly provide opportunities to attract further investments in forestry but also in mining, energy and agriculture sectors," she said in statements to Radio Nacional.