Agencia Andina | 26.08.2010

Peru, Panama to launch free trade negotiations

Lima, Aug. 26 (ANDINA). The governments of Peru and Panama agreed on Thursday to launch negotiations on a bilateral free trade agreement before the end of this year.

The announcement was made following a meeting between Peruvian President Alan Garcia and his Panamanian counterpart Ricardo Martinelli at the Government Palace in Lima.

After their meeting, the two Latin American leaders witnessed the signing of several agreements by Peru’s Trade Minister Martin Perez and Panama’s Roberto Henriquez.

Peru and Panama also committed to fight against poverty, hunger and malnutrition through bilateral cooperation. The document was signed by Peruvian Foreign Minister Jose Garcia Belaunde and Panama’s Juan Carlos Varela.

In recent years, Panama and Peru have achieved similar economic growth rates despite the global crisis and are regarded as two of Latin America’s most investment-friendly countries.