Guatemala and Peru Seek to Reinforce Trade and Ratify Anti-Drug Fight

By Dialogo
July 20, 2012

On July 18, during a visit to Lima, Guatemalan Foreign Minister Harold Caballeros said that his country seeks to reinforce trade ties with Peru in order to promote investment and highlighted the two countries’ mutual cooperation in the fight against drug trafficking in Latin America.

“Guatemala’s commercial sector has a positive view of the economic evolution of Peru, one of Latin America’s most dynamic economics,” Caballeros said after meeting with Peruvian businesspeople to talk about commercial exchange.

“We have a wide-ranging business portfolio in front of us. I encourage you to join us in establishing alliances that can enable us to get to know the opportunities for investment to develop business proposals based on quality, innovation, and competitiveness,” the Guatemalan foreign minister said.

Peru has a particular interest in intensifying its trade relations with Latin American countries in view of the difficulties confronting its partners in Europe and the United States, according to that country’s trade minister, José Silva.

Separately, Caballeros and his Peruvian counterpart, Rafael Roncagliolo, signed a declaration ratifying their concern about the serious threat posed by illicit drug trafficking and transnational organized crime.

In the document, both foreign ministers stressed their commitment to consolidating South America as a region of peace, free from anti-personnel mines.

The two countries increased their cooperation in October 2011, when they agreed to exchange information about the anti-drug fight and drug trafficking in the region.

With regard to trade, Peru and Guatemala signed a Free Trade Agreement (FTA) in December that is supposed to contribute to strengthening the economies of the two countries in the face of potential international crises.

The FTA allows more than 5,000 products tariff-free access to the two markets, as well as providing facilities for the temporary entry of businesspeople and investors.