David Emerson, minister of International Trade, noted two important milestones that include concluding trade negotiations with Peru as well as a signed free trade agreement with four countries of the European Free Trade Association, which may help breathe life into Canada’s political and economic relationships in the Americas.
“Peru has emerged as one of the most dynamic economies in the Americas, supported by an aggressive commerce agenda and clear stance in favor of trade liberalization,” Minister Emerson said in a statement.
In 2006, two-way merchandise trade between Canada and Peru was $2.4 billion. Canada is one of Peru’s largest foreign investors, funneling about $2.9 billion of investment stock into the country in 2006. For Stratos Renewables Corp. (OTCBB: SRNW), a developmental stage energy company engaged in the production, processing and distribution of sugarcane ethanol in Peru, this could mean access to additional funding and operations.
The conclusion of this free-trade agreement, which began in 2007, will enable Peru to enhance market access for a variety of Canadian agricultural products as well as mining, energy and professional services.
“This free trade agreement with Peru will further solidify our trade and investment relationship and open up opportunities for Canadian business in a range of sectors,” said Emerson.
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