Tue, 15 Jun 2021

LIMA, May 10 (Xinhua) -- Peru and Nicaragua began the first round of negotiations to form a free trade agreement (FTA), Peruvian Minister of Foreign Trade and Tourism Claudia Cornejo announced Monday.

"We are sure that this new agreement will allow us to boost export activity, which is so necessary for the economic reactivation of our country," she said.

According to Cornejo, market access, rules of origin, health measures, services, movement of people, e-commerce, investments and cooperation will be addressed during the first round from May 10 to 18.

The negotiations are being carried out virtually between representatives of the two countries.

The FTA, which will take several rounds, aims to boost trade and cooperation, which is currently at very low levels, according to the minister.

During 2020, trade between Peru and Nicaragua barely reached 32 million U.S. dollars, the Ministry of Foreign Trade and Tourism said.

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