EEPC India, the country’s apex organisation for engineering exports, is organising an exposition INDEE at lima in Peru in August, 2015. Former Peruvian Ambassador to India, HE Javier Paulinich Velarde said the Indian engineering industry is recognised globally. Entrepreneurs in Peru are looking forward to doing business with Indian companies and the opportunity to enhance the bilateral trade. As many as 80 Indian engineering firms, big and small, are participating in the exhibition, seeking to widen their engagement with latin America.
The two countries will start negotiations for a Free Trade Agreement (FTA) for the benefit of their people. Peru is proposing a comprehensive and flexible agreement that could involve not only trade in goods, but also in services, investment, cooperation and movement of business persons that would allow a broad range of possibilities for new business.
Velarde said, “Peru is one of the freest economies in latin America. The average custom duty on our products is 1.37 per cent. Because of this, Indian exports are more than $500 million. Peruvian imports of Indian cars between the years 2013 and 2014 have increased by 39 per cent, the electrical power transformers by 14 per cent and polypropylene by 74 per cent.”