New Delhi [India], March 17 (ANI): Peru’s Foreign Minister Elmer Schialer has emphasized the need to improve logistics between India and Peru to enhance economic cooperation. Speaking at the Raisina Dialogues 2025, he proposed the construction of a naval and aerial hub with two major ports to facilitate trade and commerce between the two nations.
Schialer highlighted the India-Peru Free Trade Agreement (FTA), currently under negotiation, as a crucial step towards boosting bilateral trade and investment. The seventh round of FTA negotiations concluded in April 2024, with both nations making significant progress. He expressed optimism that the agreement could be finalized by the end of the year, sending a strong signal to businesses to collaborate more closely.
He also underscored Peru’s potential in the mining sector, particularly in copper production, and invited Indian investors to explore opportunities. “With timely investments, Peru could become the world’s leading copper exporter,” Schialer stated.
Bilateral trade between India and Peru has surged from USD 66 million in 2003 to USD 3.68 billion in 2023. With the FTA on the horizon, both countries are set to deepen economic ties, fostering greater trade and investment.
