Free Trade Agreement Mexico-Peru after July 2009
"In Mexico there are outstanding political issues, elections are very close and this is making difficult the progress of the negotiations," said the deputy minister of Foreign Trade, Eduardo Ferreyros. He indicated that the MINCETUR is still waiting a response to the proposal submitted by Peru to deduct taxes only for seven agricultural products considering the bilateral negotiations for the extension of the Economic Complementation Agreement (ACE) No. 8 to become a FTA. "Mexican authorities are doing consultations with business associations to see the possibilities of accepting the Peruvian proposal, but still do not have a defined response time," said the agency Andina. He explained that the agricultural issue is one of the most sensitive for Mexico, for that reason Peru has identify a priority group of agricultural products in coordination with the private sector. He explained that in the list are seven Peruvian products that can be exported, which include grapes, olives, turkey meat and paprika. The Deputy Minister mentioned that a possible FTA with Mexico will not only be attractive to agroexporting producers in Peru but also to businesses in textiles, yarn and clothing. The negotiations between Peru and Mexico to extend the agreement began in 2006 and there has been progress in certain areas such as safeguards, trade protection, dispute resolution and recognition of qualifications, among others. But talking about market access, origin and services it is necessary more discuss. Also, last year the Mexican government extended until December 31, 2009 the term of the ACE. N ° 8 to Peru in order to maintain the tariff preferences for the access of Peruvian products. Mexico is a relatively diversified market for Peru considering that traditional exports represent 48 percent of total sales and non-traditional explain the remaining 52 percent. In 2007 the trade between Peru and Mexico reached 1.058 million dollars, while the Mexican investment in Peru exceeded 3,000 million.