Peru will sign free-trade deals with Canada and Singapore this week, President Alan Garcia said Tuesday, as the Andean country aggressively pursues trade after landing a landmark deal with the United States.
Garcia, a former leftist, now fervently believes in free trade and has gone so far as to slash almost all taxes and tariffs on goods entering the Andean country.
"On Thursday, we will sign free trade agreements with Canada and Singapore and continue the opening of markets," Garcia told reporters.
His free trade push is broadly supported by Peru's business community, where there is little in the way of a domestic manufacturing lobby demanding protection.
Peru mainly exports minerals and specialty agricultural goods like artichoke and asparagus, while it imports goods from cars to electronics.
The embassies of Canada and Singapore said the deals will be signed Thursday, after which they will be sent to the legislatures of each country for approval.
Peru signed late last year a free-trade deal with the United States, its biggest accord to date.
The Andean country, which has one of the fastest growing economies in the world, is working to forge pacts with other countries - like China and Mexico - as fears mount about a U.S. economic recession. |
