Turkey, Peru to bring trade balance to US$1bn over next 5 years

Turkish President Recep Tayyip Erdogan’s official visit to Lima —last February— contributed to a very positive approach between both countries. Turkey and Peru to bring the trade balance to US$1.00 billion over the next five-year period for which both countries are expected to reach a Free Trade Agreement (FTA) by June 2016. Both governments intend to boost new businesses, said Turkish Ambassador to Peru Ferda Akkerman.

According to Akkerman, the FTA could be signed in June, since Peru and Turkey conduct highest-level negotiations. Both dignitaries jointly committed to fulfilling this objective.

Currently, they are coming closer to the fifth negotiation round taking place on March 14th-17th. There is political willingness to move the FTA forward […]; they must work on specific topics to protect both nations’ companies, he added.

Within the framework of the President’s visit, 80 Turkish entrepreneurs came and established the first contacts expected to remain in the future.

Likewise, the diplomat said that countries rely on great potential to set a strategic partnership in the medium-term.

In March, a Turkish business delegation is expected to arrive in Lima with the aim of establishing contacts with Peruvian counterparts, while a Peruvian delegation will travel to Turkey soon. The move is comprised in the negotiation process on textile, agriculture, metal and construction sectors.

Finally, the Ambassador stated Peruvian economy remains on an upward trend and relies on a great to-be-exploited potential. Peru is also an active member of the Organization for Economic Co-operation and Development (OECD) and the G20. Likewise, Turkey is the world’s 17th and Europe’s 7th largest economy.