India-Peru Trade Talks Continue in 6th Round

• 17 Feb 2024

India and Peru held talks from 12^th to 14^th February, concluding the 6th round of negotiations for a Trade Agreement, furthering discussions initiated in 2017.

Key Points

• High-Level Participation: Vice Minister of Foreign Trade of Peru and Chief Negotiator of India reaffirm commitment to efficient negotiations, aiming to build on past successes.
• Pragmatic Approach: Both sides emphasize the need for pragmatism in finding creative solutions to achieve consensus and enhance economic ties.
• In-Person Meetings: Nine working groups hold in-person meetings covering various aspects including Trade in Goods, Trade in Services, and Customs Procedures.
• Virtual Meetings: Additional working groups continue discussions virtually on Technical Barriers to Trade, Sanitary and Phytosanitary Measures, and Trade Remedies.
• Trade Growth: Bilateral trade between India and Peru has significantly increased in the last two decades, reaching around US$ 3.68 billion in 2023.
• Future Rounds: The next round of negotiations is scheduled for April 2024, with dates to be finalized soon.