Peru and Israel are pledged to push ahead with a Free Trade Agreement (FTA) as part of their common efforts to foster major investments between the two countries and to further deepen other areas of cooperation.
“The free-trade deal is strongly necessary before the expectation arisen from investment projects funded by Israeli firms which are value at around US$ 2 billion,” said Modi Ephraim, Israel’s Ambassador to Peru.
In an interview on Thursday with El Peruano official daily, the diplomat noted that during President Ollanta Humala’s last visit to Israel, it was agreed to reach a bilateral investment promotion agreement.
"It aims to set up a platform on which a free-trade accord could be worked on as it involves more complex negotiations," he noted
Likewise, Ephraim pointed out that, since the starting of his diplomatic mission in Peru, several Israel-based companies has flocked to the country to undertake investment opportunities offered by inner regions.
“Gilat satellite networks has invested US$ 50 million in telecommunications along the northern regions of Loreto and San Martin, thus promoting Amazonian integration,” he said.
Furthermore, the top representative of the Israeli diplomacy in Peru stated the largest-scale infrastructure project ever undertaken in the country’s southern Huancavelica region has funding commitments from a Tel-Avid based business.
“IC Power has allocated US$ 900 million for the development of the Kallpa Generacion Power Plant project. The said firm has invested in Chilca (US$ 700 million) and in Arequipa (US$ 600 million),” the ambassador said.
Ephraim continued, “It is worth mentioning the investments mentioned earlier aim to support the social inclusion process taking place in the Andean nation by contributing with the creation of hundreds of jobs”.
(END) DOP/MVF/LOG
Published: 7/3/2014