Peru and South Korea to investigate trade agreement

Representatives of Korean trade delegation currently visiting Peru have made it clear that they are keen to negotiate a Free Trade Agreement between the two countries, and to promote bilateral investment.

The group, which represents institutions such as the Korean Chamber of Commerce and Industry, Daewoo, and the University of Chungnam, travelled to Peru to meet with government figures and representatives of 50 of the country’s biggest companies.

Both countries have nominated bodies to make an official report on a possible trade agreement, with work set to begin in the second quarter of next year. Korea sees Peru as a strategic partner given its richness in natural resources, while Peru hopes to gain imports of manufactured and high-tech goods.

Last year trade between the two countries amounted to US$938 million, with extremely strong growth in Peruvian mineral and textile exports.

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