Quotes: MENA   Enter Symbol: NewsLetter: Search: advanced

Trade to top agenda of Peruvian president's talks in Saudi Arabia  Join our daily free Newsletter

MENAFN - Arab News - 23/08/2014
No. of Ratings : 0
Add to Mixx!



(MENAFN - Arab News) Peruvian President Ollanta Humala is expected to visit Saudi Arabia in 2015 to participate in the fourth Summit of South American and Arab Countries (ASPA) and launch negotiations for a free-trade agreement.

'A memorandum of understanding (MoU) was signed last year by Peru Saudi Arabia and other GCC countries' Peruvian Ambassador Eduardo Martinetti told Arab News.

He added that 'the MoU indicates that Peru Saudi Arabia and the other GCC countries will adopt measures for expanding and liberalizing their trade relations including establishing a free-trade area between them.'

He also said that Peru is looking forward to the meeting since such an agreement will not only boost its multilateral trade with the Gulf but also bolster economic and financial joint ventures.

The Peruvian Embassy has started the groundwork ahead of the upcoming negotiations.

'Every country involved will form a committee comprising experts and advisers from the private sector so that their views and interests can be harmonized' the Peruvian envoy said. 'The ASPA summit will be attended by the Peruvian president and eleven other South American heads of state as well as monarchs and prime ministers from 22 Arab countries' said Martinetti who arrived in the Kingdom as the first Peruvian ambassador in July 2012.

Martinetti added that the previous ASPA Summit was held in Lima Peru with the attendance of high-ranking officials from Saudi Arabia and other GCC and Arab League countries.

President Humala a former army officer who ran for office in 2011 leads a booming economy whose GDP has twice doubled since 2000 boasting the highest growth rate among South American countries for 13 years in a row.

The diplomat recalled the first shipment of Saudi dates sent to Lima which was delayed by Peruvian sanitary officials until it complied with local regulations. 'With the support of the Saudi Embassy in Lima this case enabled the two countries' regulatory entities to establish a closer relationship' he said.

'Businessmen in both countries need to be fully aware of the rules and regulations regarding exports to and from Peru so that products can reach the market without delay.'

Benefiting from its vast and diversified resources and exports Peru pursues an open economy and has signed free-trade agreements with all its major trading partners including the United States China and the European Union.

'Peru is big on mining although the country has prospected only 25 percent of its total territory' the ambassador said. He added that his country ranks first in Latin America in gold production second in silver worldwide and third in copper tin and zinc. He remarked that Peru has also been a fishing country for decades and a first-world exporter of fish meal and fish oil making it an important fish exporter.

 


Arab News




  MENA News Headlines
 Mar 28 2015 - Saudi pounds Yemen rebel campsThe Peninsula
(MENAFN - The Peninsula) Saudi-led coalition warplanes bombed rebel camps in Yemen Friday in a second straight day of strikes as embattled President Abedrabbo Mansour Hadi arrived in Egypt for talks ...

 Mar 28 2015 - Qatar- QMMF's West, Simon start strong at homeThe Peninsula
(MENAFN - The Peninsula) QMMF Racing Team's Anthony West and Julian Simon made a good start to the 2015 Moto2 season at the Losail International Circuit here on Thursday night.Under floodlights of ...

 Mar 28 2015 - Qatar- Cudlin wins first raceThe Peninsula
(MENAFN - The Peninsula) Britain's Alex Cudlin (centre) won the first Qatar SuperBike (QSBK) race at Losail International Circuit on Thursday night. German rider Nina Prinz (left) came second. ...

 Mar 28 2015 - Qatar- Marquez stays on top of time sheetsThe Peninsula
(MENAFN - The Peninsula) MotoGP world champion Marc Marquez of Repsol Honda yesterday finished on top of the combined time sheets after a frantic end to Free Practice (FP) 3 with Britain's Cal ...

 Mar 28 2015 - Oil dives 4.7% on easing Yemen worriesThe Peninsula
(MENAFN - The Peninsula) Oil prices sank Friday, giving back some gains from a two-day surge, as traders kept an eye on the Saudi-led air assault against Shiite rebels in Yemen.US benchmark West ...

 Mar 28 2015 - UN orders Libya rights abuses investigationThe Peninsula
(MENAFN - The Peninsula) The UN Human Rights Council decided Friday to send a mission to war-torn Libya to investigate a range of abuses by different sides and help bring perpetrators to justice.The ...

 Mar 28 2015 - Ex-president Saleh calls for Yemen ceasefireThe Peninsula
(MENAFN - The Peninsula) Former Yemeni president Ali Abdullah Saleh, who is close to the country's Shiite Huthi rebels, called Friday for a ceasefire and the resumption of UN-brokered dialogue ...

 Mar 28 2015 - Saudi pounds Houthi campsThe Peninsula
(MENAFN - The Peninsula) Saudi Arabia said yesterday the coalition forces it is leading will not at any cost allow weapons or other supplies to be made to Houthi militiamen in Yemen.The spokesman for ...

 Mar 28 2015 - Hamas denounces EU terror list decisionThe Peninsula
(MENAFN - The Peninsula) Hamas on Friday denounced a European Union decision to keep the Palestinian Islamist group and de facto Gaza Strip ruler on its terrorism blacklist, despite a court ordering ...

 Mar 28 2015 - Qatar- 28th Qafco Flower and Vegetable Show opensThe Peninsula
(MENAFN - The Peninsula) The 28th edition of the Qafco Flower and Vegetable Show has witnessed nearly 500 competitors and 5,000 exhibits at Al Banush Club in Mesaieed.This year, the event has been ...

more...


 






Google

Arab Advisors_12th convergence conf

 
 

Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  
 

Middle East North Africa - Financial Network
Arabic MENAFN

Main News
News By Industry
News By Country

Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices

Commodoties

Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks
 

Algeria 
Bahrain 
Egypt 
Iraq
Jordan 
Kuwait 
Lebanon
Morocco 
Oman 
Palestine
Qatar 
Saudi Arabia 
Syria
Tunisia 
UAE 
Yemen

Weather
Economic Calendar
Financial Glossary


Financial Calculators

RSS Feeds [XML]

Corporate Monitor

Events

Real Estate
Submit Your Property

Arab Research
Buy a Research

Press Releases
Submit your PR

Join Newsletters


 
© 2014 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help