Bernama – Malaysia
LIMA, Oct 17 (BERNAMA-NNN-ANDINA) — A trade agreement with Morocco will facilitate the entry of Peruvian agricultural products to that market, enabling Peru to take advantage of the more than US$2 billion the African country spends in food imports, said Peru’s Foreign Trade Society (ComexPeru).
Peru’s Ministry of Foreign Trade and Tourism (Mincetur) and its counterpart in Morocco would be assessing the possibility of carrying out a feasibility study to search for opportunities in both markets.
ComexPeru stressed that both economies could complement each other effectively, given the share of food in the structure of imports from Morocco and Peru’s need for investment in the energy sector, water management and infrastructure in general.
It also said Peru’s exports to Morocco, a member of the Arab League, showed an improvement this year, with January-August figures totalling US$22 million. In 2011, exports for the year totalled US$20.6 million, down 41 percent from the previous year.
Imports for the first eight months of this year reached US$18 million. In 2011, imports amounted to US$16 million, a 21 percent drop from the previous year.
The trade agreement would be potentially beneficial to Peru because of Morocco’s need to import food. Peruvian farmers, ranchers and fisheries may take advantage of this need, said ComexPeru.
— BERNAMA-NNN-ANDINA
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