India and Peru may sign textile commercial agreement

In order to promote textile trade between the two countries, Peru and India may sign a commercial agreement in the near future, industry sources said on November 21.

Since bilateral trade between India and Peru took a great leap, the trade amount grew from 82 million U.S. dollars in 2001 to 190 million U.S. dollars in 2005. Meanwhile, Peru is looking for opportunities to establish a comprehensive partnership with India.

In 2005, Peru's total exports reached 17 billion U.S. dollars, while imports reached 12.5 billion U.S. dollars.

Peru-Indian Chamber of Commerce and Industry s vice president Marco Hurtado said, Peru is a good investment destination to India, this is because the free trade agreements between the United States and India provide Indian investors a platform for export to the United States, and US is one of the biggest investment countries to Peru.