Dow Jones | 27 November 2009

Peru signs agreement with European free trade pact nations

By Sophie Kevany, Dow Jones Newswires

LIMA (Dow Jones) — Peru formally concluded a joint free trade agreement with Switzerland, Norway, Liechtenstein and Iceland on Friday, said trade and tourism minister Martin Perez.

The four countries make up the European Free Trade Agreement, or EFTA, trading block.

Peruvian exports to EFTA were worth $3.4 billion last year, Perez said in a statement. Imports from EFTA totaled $1.3 billion.

In the first nine months of the year, Peruvian exports to EFTA countries rose by 18%, compared to the same period last year, Perez said.

Sectors that will benefit the most from the new agreement, according to Perez, are fishing and industry.