associate sponsors

Llyod
HDFC

Peru says it and India plan to start free trade talks this quarter | Reuters

LIMA India and Peru plan to start negotiations on a bilateral free trade agreement covering goods, services and investments sometime in the first quarter, Peru said on Wednesday.The Cabinet of Indian Prime Minister Narendra Modi approved a feasibility study on the proposed deal on Wednesday, clearing the way for the start of formal talks, Peru's Trade Ministry said in a statement.Peru said an initial technical meeting in the first quarter would mark the first time that India, one of the world's biggest and fastest-growing economies, negotiated a comprehensive trade deal with a Latin American country.Peru is a leading producer of copper, gold and fishmeal and was one of 12 signatories of the U.S.-proposed Trans-Pacific Partnership trade deal that U.S. President-elect Donald Trump has vowed to scrap.

After last year's U.S. presidential election, Peru said it hoped to join the rival Beijing-backed trade deal, the Regional Comprehensive Economic Partnership, that several TPP economies as well as India have been negotiating.Peru, with a population of 30 million, is one of Latin America's most open and fastest-growing economies.

Peru's exports to India would likely rise 12 percent if the two countries passed a free trade deal, with clothes, fruits and vegetables, and chemical products poised to benefit the most, the ministry said.

(Reporting by Mitra Taj; Editing by Peter Cooney)

This story has not been edited by Firstpost staff and is generated by auto-feed.


Updated Date: Jan 19, 2017 07:01 AM

Also Watch

Watch: The true stories from Dharavi that inspired Rajinikanth's Kaala
  • Thursday, March 8, 2018 Watch: Cyrus Khan talks about Parkour, jumping across walls and why he hates sitting
  • Thursday, May 31, 2018 Unwind: India's basketball sensation Amjyot Singh has his eyes set on becoming an NBA regular
  • Monday, May 28, 2018 First Day First Showsha — Review of Solo: A Star Wars Story in 10 questions
  • Saturday, May 19, 2018 Social Media Star: Rajkummar Rao and Bhuvan Bam open up about selfie culture, online trolls

Also See



{if $hideJSforEU != 'yes'} {/if}