Xinhua | 27 May 2015

Philippines, Peru set to engage in FTA talks

MANILA, May 27 (Xinhua) — The Philippines is set to engage into free trade agreement talks with Peru, a senior government official said on Wednesday.

Ponciano Manalo, the country’s trade undersecretary for Trade and Investment Promotions Group, said the Trade Department will continue to proactively work out more free trade agreements with trading partners in the next two to three years.

"There is indication that Peru is interested to create a free trade agreement with the Philippines," he said in a briefing at the Board of Investments.

The Trade Department is currently negotiating several free trade agreements with a number of economies like the European Union, European Free Trade Association, Canada, Mexico and Chile.

The department recognizes and gives eminence to bilateral agreements as important tools to expanding trade opportunities that are of the best interests of both sides, and it will launch more trade shows in 2015 to further promote the Philippines as one of the best places in the world for investments, according to the department.