10:11 | Lima, Oct. 02 (ANDINA).
The Framework Agreement on Trade, Economic, Technical and Investment Cooperation between Peru and the GCC countries would lead to sign a free trade agreement (FTA) between the Andean country and the GCC nations.
ASPA Foreing Ministers stressed the agreement will allow moving forward to more dynamic relations between the South American nation and one of the most important blocs in the Arab world.
The GCC comprises Saudi Arabia, Kuwait, the United Arab Emirates (UAE), Qatar, Bahrain, and Oman.
The Gulf region, with a population of 41.2 million people and a GDP of 917 billion dollars, is considered as a promising market for Peruvian products, especially food and non-traditional exports.
The agreement will facilitate the flow of capital, the development of investment projects, the increase of bilateral trade and tourism, as well as scientific and technological exchanges in energy, agriculture and industry, foreign ministers said.
(END) EPP/LVT
Published: 10/2/2012