Singapore and Peru conclude second round of negotiations for FTA
Channel NewsAsia, Singapore
Singapore and Peru conclude second round of negotiations for FTA
By Asha Popatlal, Channel NewsAsia
19 June 2006
SINGAPORE: Singapore and Peru have concluded their second round of negotiations for a Free Trade Agreement.
Chief negotiators from both sides reached substantive agreement at the end of their week-long talks in Peru last week.
A joint statement from the two countries said negotiations on sanitary and phytosanitary measures and competition policy were completed successfully.
Significant progress has also been achieved on the other issues.
These include trade in goods, rules of origin, customs procedures, trade remedies, investment, technical barriers to trade, institutional provisions and dispute settlement.
The Peru-Singapore FTA was first launched by Singapore Prime Minister Lee Hsien Loong and Peruvian President Alejandro Toledo Manrique at the sidelines of the APEC Economic Leaders Meetings in Chile in November 2004.
The first round of negotiations was held in Singapore in February 2006.
The next round is expected to take place in August or September in Singapore.
Negotiations for the agreement, which is expected to strengthen the trade and investment relations between the two countries, are targeted to be completed within the year. -
