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Peru sees economy boost from free trade deal with U.S. By Pablo Veramendi PeruToYou.com | |
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A proposed free trade agreement with the United States could be great news for Peru. |
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Peru's economy could get a huge jolt from the agreement that it and other Andean nations are negotiating with the United States, adding three percentage points to annual economic growth within a decade, Deputy Trade Minister Pablo de la Flor said, according to Forbes. Speaking in southern Chile on Saturday, de la Flor also said he projected 4.5 percent growth for the Peruvian economy this year due to recovery in exports, investment and consumption. The official growth estimate is 4 percent. Peru, Colombia and Ecuador began free trade talks with the United States in May. "We have a very favorable forecast of the impact of the accord on Peru and we believe as a result, within a decade, we could have sustained growth of more than 3 percentage points more than what we would have without it," de la Flor told reporters on the sidelines of a summit of
trade ministers from 21 countries around the Pacific. Peru's economy grew by an annualized 4.6 percent in the first quarter, better than economists had forecast, thanks to mining, fishing and manufacturing exports, Forbes said. The robust economy is seen as the main staying power of President Alejandro Toledo, who has a very low approval rating as his three years in power have been marked by political instability and corruption scandals. According to Forbes, de la Flor said the Andean-U.S. trade talks could finish up in the first quarter of 2005. | |
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Chullo (Andean Hat)
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Visiting the "Callejon de Huaylas"
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