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Free trade agreement with South Korea strengthened

South Korean delegation at the meeting with Peruvian Congress members. (Photo: Congreso de la República del Perú)

Click on the flag for more information about PeruPERU
Friday, May 15, 2015, 23:00 (GMT + 9)
The Committee on Economy, Banking, Finance and Financial Intelligence of the Peruvian Congress met with officials of the Korean government and jointly pledged to streamline, expand and strengthen the free trade agreement (FTA) signed between the two countries in August 2011.
This treaty seeks to strengthen trade relations, creates a framework and favorable conditions for trade and investment between the two countries. It allows control and security tools for both investors of the Parties and for both States, which may encourage the development of short, medium and long term investments.
The meeting was attended by the chairperson of the Committee on Economy, Casio Huaire, and the president of Strategy and Finance Committee of the National Assembly of South Korea, He Soo Chung, who agreed on the fact that bilateral trade is in top condition.
However, they stressed the need to increase investments in the fisheries sector, among others.
During the meeting, the head of the South Korean delegation said that there is a large number of business investors from his country who want to start businesses in Peru because they consider it a big market for the development of raw materials, the agencyAndina reported.
Nevertheless, he highlighted that the Peruvian authorities have to implement measures to boost the Peruvian market rather than obstacles as a state tax agency would do.
For Peru, Korea it represents an important opportunity to expand its markets in the Asian-Pacific region, which, through diversification, allows it to minimize risks and provide Peruvian exporters a wider range of destinations for their products.
Besides, the meeting was attended by congress people Young Sun Park, Young Rock Kim and parliamentary researcher, Sull Hee Jang; as well as by entrepreneurs Ki Whan Na, Jong Kyu Park and Han Byeol Oh.

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