The President of the Binational Chamber of Commerce and Integration Peru-Brazil, Miguel Vega Alvear, said that trade exchange between the two nations could grow from 3.7 billion dollars recorded in 2011 to 10 billion dollars in 2016 with the implementation of this agreement.
On Wednesday, Peru’s National Parliament received an agreement which creates a Border Integration between Peru and Brazil, with the aim of promoting economic and social development and complementation, and cultural exchange between the two countries.
"This agreement is a result of the strategic alliance achieved with Brazil and aims to an integration model bigger than the agreements signed in the last 50 years in Latin America," said Vega Alvear to El Peruano official gazette.
This agreement aims to foster a culture of peace and border integration, respecting and encouraging national and cultural identity and sustainable development, to enable or enhance routes and roads of development.
Following its approval, it would join the 24 Peruvian regions or territory in four economic centers and connected to Brazil.