Peru and Mexico have agreed to extend their current Economic Agreement, due to end on Dec. 31 this year, until June 30, 2008, Peru's Foreign Trade and Tourism Minister Luis Garcia said on Monday.
The agreement was reached by Garcia and his Mexican counterpart, Beatriz Leycegui, at a meeting in Lima last week.
Business people in both countries have been informed of the extension, which was intended to boost continued flow of bilateral trade, said Garcia.
Meanwhile, talks on a bilateral free trade treaty are set to be reopened in September in Mexico City, said the trade minister.
"Peru considers it essential to restart these talks, which were suspected in October, in a bid to open up markets for Peru's products in Latin America," Garcia said.
Peru's free trade agreement would cover the whole of North America after the success of trade deals with Mexico and it has already begun negotiations with Canada and a treaty with the United States is currently awaiting approval by Peru's Congress.
Source: Xinhua
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