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Peru seeks closer trade ties with Europe

By IANS

Madrid : Peru is seeking Spain’s support to strengthen ties with the European Union (EU) and attract more foreign direct investment into the Andean nation, Spanish news agency EFE reported Tuesday.

Visiting Peruvian President Alan Garcia urged the Spanish government to use its influence for promoting Latin America in Europe.

After meeting Spanish Prime Minister Jose Luis Rodriguez Zapatero, the Peruvian leader told reporters that Europe should also invest in Latin America like the US and China.

Peru, which already has a free trade agreement with the US, is currently negotiating with the EU for a similar trade tie.

Peru will host a EU-Latin American summit meeting in May to seek closer economic and trade relations.

Spain accounts for the biggest share of foreign direct investment (FDI) in Peru. Garcia wants even higher FDI inflows from the Iberian nation.