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02/10/2012 - 15:27hs

Peru signs agreement with the Gulf

The South American country signed a framework agreement to start free trade negotiations with the Gulf Cooperation Council.

Lima - Peru signed on Monday (1) a framework agreement with the Gulf Cooperation Council (GCC) to start talks for a free trade agreement. The agreement forecasts economic, commercial, technical and investment cooperation. The Arab bloc includes Saudi Arabia, Bahrain, Kuwait, Qatar, Oman and the United Arab Emirates.

The GCC started free trade negotiations with the Mercosur, but the treaty did not go ahead due to disputes in the petrochemical area. Apart from the document, the president of Peru, Ollanta Humala, had bilateral meetings with Arab leaders and ministers, among them the king of Jordan, Abdullah Bin Al Hussein.

The minister of Economy of Peru, Luis Miguel Castilla, agreed to promote a road show in Dubai, in the Emirates, and the Chamber of Commerce of Lima signed a cooperation agreement with the Oman Chamber of Commerce and Industry.

*Translated by Mark Ament

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