Peru and El Salvador have agreed to restart negotiations for a Free Trade Agreement (FTA), aiming to expand business opportunities for Peruvian enterprises in El Salvador. This announcement was made by Peru’s Minister of Foreign Trade and Tourism, Desilú León Chempén, following a virtual meeting with El Salvador’s Minister of Economy, María Luisa Hayem Brevé.

Following their discussion, both ministers issued a joint statement reaffirming their governments’ commitment to advancing negotiations with determination. They highlighted the importance of finalizing an agreement that fosters economic growth in both nations and expressed their shared interest in promoting more dynamic trade relations with tangible benefits for their respective productive sectors.

Peru and El Salvador initially launched negotiations for an FTA in 2010, making progress on various topics to strengthen bilateral trade. Over the years, both countries have maintained their interest in securing the agreement, leading to the establishment of a general negotiation framework in January of this year. This framework aims to reinvigorate the process and move towards signing the treaty.

«Trade in goods between Peru and El Salvador has shown an upward trend in recent years. We are confident that this negotiation will further enhance these trade flows, diversify our exports, and create new investment and employment opportunities for our citizens,» stated Minister León.

She further emphasized that the agreement seeks to establish a stable and predictable regulatory framework that will allow economic operators, particularly small and medium-sized enterprises (SMEs), to fully leverage the potential of trade relations between the two nations.

El Salvador’s Minister of Economy, María Luisa Hayem Brevé, underscored that resuming negotiations presents a crucial opportunity to increase and diversify the trade of goods and services between both countries.

«This agreement will strengthen bilateral trade, facilitating the access of more Salvadoran products and services to the Peruvian market and vice versa. In doing so, it will generate sustained growth and new business opportunities for our enterprises,» Hayem noted.

El Salvador is considered a strategic market for Peru in Central America, boasting a growing economy and increasing demand for value-added products. The FTA is expected to unlock new opportunities for Peruvian exporters, granting them preferential access to the Salvadoran market.

The reduction of tariffs and trade facilitation measures will allow more Peruvian companies to export competitively, diversify their markets, and contribute to employment growth and investment in the country.