Commerce between Canada and Peru estimated to grow 15% in 2009

Mayo 14, 2009.- According to Export Development Canada (EDC), the bilateral Free Trade Agreement (FTA) will strengthen the countries’ relations.

Commercial exchange between both countries could grow to $ 3,450 million dollars (15%) in 2009, 10 to 15% over 2008, declared EDC’s president Eric Siegel.

EDC is the Export Credit Agency of Canada’s government that offers innovative commercial solutions to Canadian exporters and investors willing to expand their international businesses.

Siegel said the FTA, subscribed last year, will enhance the commercial and cooperation relations between both countries.

“This commercial agreement will boost the exchange of goods and services, more than investments since these already have an Investment Protection Agreement”, he affirmed.

However, he remarked that an FTA will enhance trust among Canadian investors in Peru considering its economy is one of the strongest and the least affected by the international crisis, like China.

“Canadian investments are growing and we believe there is a large potential for them to continue establishing in Peru”, he said.

Siegel said that Canada is at present the fourth largest major investor with over $ 2,000 million dollars.

EDC opened in Lima today its fourteenth world representation and fourth in Latin America, thus continuing its expansion supporting the growth of commercial exchange between Canada and regional countries.

The agency works in cooperation and coordination with commercial banks, multilateral institutions and regional Banks supporting financial solutions.

Last year EDC facilitated $ 85,800 million dollars in exports and international investments in about 200 markets around the world, equivalent to an increase of 23% over 2007.

Moreover, it facilitated $ 6,500 million dollars in South America, of which $ 291 million went to Peru.

Source: Johan van Ginhoven

Image: Gobierno de Canadá

Tags Blogalaxia: Tourism, Canada, Peru, Economy, Commerce.

Commerce between Canada and Peru estimated to grow 15% in 20094.352

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