Home
|
Sitemap
|
FAQs
|
Contact Us
Product
Country
Menu
About Agri Exchange
Introduction
Apeda Agri Exchange
The Vision
Benefits / Facilities
To Exporters
To Buyers
Product Profile
Floriculture
Floriculture
Fruits & Vegetables Seeds
Fresh fruits & Vegetables
Fresh Onion
Other Fresh Vegetables
Walnuts
Fresh Mangoes
Fresh Grapes
Other Fresh Fruits
Others (Betel Leaves & Nuts)
Processed Fruits & Vegetables
Cucumber and Gherkins (Prepd. & Presvd.)
Processed Vegetables
Mango Pulp
Processed Fruits,Juices & Nuts
Pulses
Animal Products
Buffalo Meat
Sheep/ Goat Meat
Other Meat
Processed Meat
Animal Casing
Poultry Products
Dairy Products
Natural Honey
Caseins
Albumin (Eggs & Milk)
Other Processed Foods
Groundnuts
Guar Gum
Jaggery & confectionery
Cocoa Products
Cereal Preparation
Milled Products
Alcoholic Beverages
Miscellaneous Preperations
Cereals
Basmati Rice
Non Basmati Rice
Wheat
Maize
Other Cereals
Country Profile
United Arab Emirates
Saudi Arabia
Malaysia
Bangladesh
United States
Vietnam
Kuwait
Iran
United Kingdom
Indonesia
...View more country profiles
FTA's
Analytical Report on FTAs
Tariff Concession under FTAs
Statistics
International Trade
India's Export
India's Import
Production
International Production
India Production
Market Intelligence
e-Bulletin
Global Analytical Report
India's Export Analytical Report
Comparative Report On APEDA Products
Comparative Report On Principal Commodities
Import Tariffs
Import Regulations
SPS Notifications
DGFT : Public Notice, Notifications, Circular and Trade Notice
India Food Safety & Standards
Market Reports
Foreign Trade Policy 2023
Chapter 01 - Legal Framework and Trade Facilitation
Chapter 02 - General Provisions Regarding Imports and Exports
Chapter 03 - Developing Districts as Export Hubs
Chapter 04 - Duty Exemption Remission Schemes
Chapter 05 - Export Promotion Capital Goods (EPCG) Scheme
Chapter 06 - Export Oriented Units (EOUs), Electronics Hardware Technology Parks (EHTPs), Software Technology Parks (STPs) and Bio-Technology Parks (BTPs)
Chapter 07 - Deemed Exports
Chapter 08 - Quality Complaints and Trade Disputes
Chapter 09 - Promoting Cross Border Trade in Digital Economy
Chapter 10 - Scomet: Special Chemicals, Organisms, Materials, Equipment and Technologies
Chapter 11 - Definitions
Newsletters
Latest News
Latest Newsletter
Archives
Directory
Exporters
Service Providers
Logistics
Trade Leads
Submit New lead
Buy Leads
Sell Leads
Indian Mission Login
Market News
Charting a Path to Enhanced Trade: India and Peru’s Upcoming FTA Negotiations.
Oct 05, 2023
Ahead of the resumption of negotiations for a groundbreaking Free Trade Agreement (FTA), officials of India and Peru are set to meet virtually on October 10, to talk about the agreement.
The negotiations of the FTA which is expected to strengthen bilateral trade and investment ties between the two nations is scheduled to take place in the first week of December.
During her visit to India in August the Vice Minister of Foreign Trade, Teresa Mera Gomez, had met with her counterpart and the two sides agreed to resume negotiations.
Background
During an interview with Financial Express Online on the sidelines of India-LAC Conclave in August, Peru’s Vice Minister of Trade, Teresa Mera Gomez, expressed optimism about the upcoming sixth round of negotiations, building on the progress made during the fifth round in Lima before the pandemic. The FTA seeks to enhance the economies of both nations without creating competition.
Recent developments at the India-LAC Conclave in New Delhi have paved the way for the FTA revival. India’s Commerce Secretary, Sunil Barthwal, has also earlier confirmed the continuation of FTA talks, highlighting the identification of key collaboration areas. Both countries are keen to expand trade, especially in agricultural products and essential minerals like gold, zinc, and recently discovered lithium.
The comprehensive FTA covers a wide range of aspects, including access to markets, trade in services, movement of professionals, and investment facilitation. Peru is India’s third-largest export destination in the Latin America and Caribbean region, making this pact strategically important. Key negotiation topics include trade remedies, rules for product origins, technical barriers, dispute resolution, and customs procedures.
The groundwork for this agreement was laid in 2017 during official visits by Indian government representatives to Peru. With a diplomatic relationship spanning six decades, Peru is positioned as a gateway to the larger LAC region, providing Indian investors with opportunities for growth.
Peru’s status as a leading global producer of minerals such as gold, silver, copper, tin, zinc, and lead has strengthened trade ties. Over the years, India has seen increased mineral imports from Peru, solidifying economic connections.
Trade extends to agricultural products, including Red Globe table grapes, blueberries, avocados, and quinoa. Peru’s mangoes are also poised to enter the Indian market, further enhancing trade relations.
A significant development is the Chancay Port Terminal, a multifaceted hub for various cargo types and a Special Economic Zone (ZEE). With a $3 billion investment, the port promises technological, industrial, and logistical advancements, aligning with Peru’s growth goals.
Despite fluctuations, bilateral trade between India and Peru demonstrates resilience. In 2022-23, the trade value stood at $3.11 billion, with India exporting motor vehicles, iron and steel products, and cars, while Peru imports bulk minerals, gold, crude oil, and fertilizers.
Peru is actively seeking investments in sectors such as hospitality, entertainment, healthcare, and more.
financialexpress.com
Archive