India-Peru Virtual Trade Talks: Nurturing Economic Cooperation
A special virtual round of negotiations for the India-Peru Trade Agreement is scheduled for October 10-11, 2023. A special virtual round of negotiations for the India-Peru Trade Agreement is scheduled for October 10-11, 2023, with the sixth round of talks expected to have a substantial impact. This negotiation round will encompass diverse aspects, including Initial Provisions and General Definitions, Rules of Origin, Cooperation, Legal and Institutional Issues, Dispute Settlement, Sanitary and Phytosanitary Measures, General and Security Exceptions, Technical Barriers to Trade, Trade in Goods, Customs Procedures, and Trade Facilitation. Talks concerning Trade Remedies and Investment, Services, and the Movement of Natural Persons are slated for later this month, as announced by the Ministry of Commerce & Industry on October 10, 20 23. The trade relationship between India and Peru has been steadily growing, with India exporting goods valued at US$865.91 million to Peru, while imports from Peru amounted to US$2.25 billion.
发表 : 2年前 经过 Huma Siddiqui 在 Business
A special virtual round of negotiations for the India-Peru Trade Agreement is scheduled for October 10-11, 2023.
Financial Express Online had reported recently that following the virtual round the next round of negotiations will take place in December. The sixth round of negotiations for the Trade Agreement anticipated to have a substantial impact, promoting trade, investment, and cooperation across various sectors will be at Lima, Peru.
Leading the Indian delegation is Chief Negotiator Vipul Bansal from the Department of Commerce, while Gerardo Antonio Meza Grillo, Director for Asia, Oceania, and Africa at the Ministry of Foreign Trade and Tourism, will head the Peruvian team.
This negotiation round will encompass diverse aspects, including Initial Provisions and General Definitions, Rules of Origin, Cooperation, Legal and Institutional Issues, Dispute Settlement, Sanitary and Phytosanitary Measures, General and Security Exceptions, Technical Barriers to Trade, Trade in Goods, Customs Procedures, and Trade Facilitation.
Additionally, discussions concerning Trade Remedies and Investment, Services, and the Movement of Natural Persons are slated for later this month, as announced by the Ministry of Commerce & Industry on October 10, 2023.
Negotiations for the India-Peru Trade Agreement commenced in 2017, reaching the fifth round in August 2019. However, due to the COVID-19 pandemic, negotiations were temporarily suspended.
Recently, during the CII India-LAC Conclave in New Delhi on August 3-4, 2023, a delegation led by Dr Teresa Mera Gomez, Vice Minister of Foreign Trade of Peru, met with Piyush Goyal, Minister of Commerce & Industry. Both sides expressed their interest in resuming trade negotiations. Consequently, Minister Goyal instructed the resumption of negotiations with Peru.
The trade relationship between India and Peru has been steadily growing. In the fiscal year 2022-23, bilateral trade reached US$3.12 billion. India exported goods valued at US$865.91 million to Peru, while imports from Peru amounted to US$2.25 billion.
Key Indian exports to Peru include motor vehicles/cars, cotton yarn, pharmaceuticals, and machinery, while Peru primarily exports gold, copper ores, and concentrates. This Trade Agreement is expected to further enhance these economic ties, fostering mutual prosperity and opening new avenues for collaboration between the two nations.
话题: India, Peru