Private-run Foreign Trade Society (ComexPeru) says future FTA with India will benefit Peruvian non-traditional exports, since the Asian country constitutes a market of more than 1.3 billion inhabitants.
The business association welcomed Foreign Trade and Tourism Ministry's positive announcement that trade agreement negotiations are kicking off in June as a means to promote further trade in goods, services and investment.
"India represents a market of over 1.3 billion inhabitants, with a huge potential for our non-traditional exports, such as fruits and vegetables, which currently face high tariffs in this market; for instance, coffee (56.3%), grapes (30.8%), cocoa (30%) and fish meal (29.9%)," ComexPeru General Manager Jessica Luna pointed out.
According to ComexPeru, India is expected to be one of the most important emerging powers in the globe since, according to the World Bank, it has been expanding at an average growth rate of 7.3% over the past five years and is projected to experience an annual growth rate of 7.6% in the following years as a result of higher private consumption and investment in public infrastructure.
On the other hand, ComexPeru highlighted the work of Mincetur to set the agenda and topics to be covered in the negotiation, as well as its participation at this year's AAHAR - International Food & Hospitality Fair.
"The presence of Deputy Foreign Trade Minister Edgar Vasquez in technical meetings between officials from both countries has been fundamental to set the agenda of issues to be negotiated, like those on tariffs, sanitary and phytosanitary measures, technical barriers to trade, investments, movement of people, cooperation, among others," Luna explained.
"We are confident the presentation of the 'Superfoods Peru' brand at AAHAR 2017 —major international food fair in India— and the work undertaken by Senasa in terms of easing access to markets will set the tone by increasing the flow of our agro-industrial exports to such country," she noted.
Luna believes entering this market will be key to foster exports and, therefore, contribute to the recovery of Peru's economic dynamism.
(END) CNA/RMB/MVB
Published: 3/10/2017