Addressing an Interactive Session with members of PHD Chamber of Commerce and Industry Mr. Vasquez said, the President of the Peru would be visiting India sometimes in early next year to further cement bilateral trade and commercial ties with India. The proposed visit could also lay a foundation to begin negotiations with Indian authorities for the FTA, he indicated.
In the absence of trade preferential treatment by India to Peru, the latter is able to export only two per cent of its total exports to India where as the two way trade between India and Peru, according to latest estimates has risen at US$ 1.3 billion, with balance of trade being in favour of India, said Mr. Vasquez.
The visiting Minister said that he had set the tone for starting the negotiations for FTA with its counterparts in the last two days and further negotiations and talks would also be needed for signing this agreement both in goods and services.
On a query raised about direct flight between New Delhi and Lima during the interactive session, Mr. Vasquez responded saying that Peru was definitely contemplating air connectivity with Asia region but added saying that currently there is no proposal for direct flight between the two capitals.
He invited the Indian businessmen to invest in Peru for construction of roads, highways, ports, airports, telecommunications and energy including in other heavy industries and take advantages of its tourism spots for accelerating tourism ties between India and Peru.
The Ambassador of Peru to India Mr. Javier Paulinich in his presentation also referred to the FTA, emphasizing that with it in place, the trade ties between the two countries would scale up manifold to reach their potential.
The comprehensive economic agreement between India and Peru would prove to be one instrument that will take the trade ties between the two nations to levels cannot be anticipated as of now, indicated the Ambassador.
The President PHD Chamber Mr. Sharad Jaipuria in his welcome remarks said that India and Peru should not waste time and move seriously to striking closer commercial ties for enhancement of two way trade and assured that India would explore all possibilities so that the trade ties between the two nations reach the potential level.
Among others who participated in the Interactive Session included Economic and Commercial Counsellor of Peru Mr. Luis Cabello; Official for Bilateral Affairs for Asia, Africa and Oceania at the Minister of Foreign Trade, Government of Peru Mr. Jose-Luis Castillo; Chairman, International Affairs Committee, PHD Chamber Mr. Pradeep Tyle and Chairman, Tourism Committee, PHD Chamber Mr. Vijay Mehta.
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