Peru's Shipyard Marine Industrial Services (Sima) and the Canadian Commercial Corporation (CCC) have signed a memorandum of understanding (MoU) that enables the Andean country's companies to enter the Canadian naval market.
The new agreement aims to increase naval industrial relations between the two nations in areas such as technology and equipment transfer.
The decision was reached after Peru’s Ministry of Defense signed a previous memorandum of understanding with the Canadian Commercial Corporation (CCC) in May last year.
The MOU between the CCC and the Peruvian Defense Ministry aims to deepen defence and security relations between the two countries, and to facilitate and improve cooperation for the purchase of services or military and defence equipment by Canadian companies to the Peruvian Ministry of Defense
Peru is Canada’s third-largest bilateral trading partner in Latin America and the Caribbean after Mexico and Brazil, after signing a free trade agreement in 2009.
It is worth mentioning that the South American country is the third largest destination for Canadian direct investment in South and Central America.
Sima, a state firm with extensive experience in Peru, offers boat building, ship repair, metal engineering and manufacturing of the highest reliability and quality in South America.
On the other hand, the Canadian Commercial Corporation (CCC) is a federal Crown corporation mandated to facilitate international trade on behalf of Canadian industry, particularly within government markets.
(END) DLG/RMB
Published: 7/3/2014