Chennai: Javier Manuel Paulinich Velarde, Peru's ambassador to India, was positive about completing talks for the Free Trade Agreement (FTA) between India and Peru by the end of 2025, or early 2026 at the latest.
On the margins of Peru's 204th Independence Day celebrations in Chennai on Monday, Ambassador Velarde told ANI that he was thrilled about the occasion and stressed the investment prospects in the South American country.
I am incredibly thrilled since this is the first time that we will commemorate our national day in Chennai. We expect to continue in the near future... This is a chance to educate people about Peru, the goods we may exchange in the future, and some activities such as the negotiation of a free trade agreement between India and Peru, he stated.
We want to conclude a free trade agreement negotiation as soon as possible, maybe by the end of this year or, at the very least, at the start of the following year. The goal is to lower tariffs on a variety of items while encouraging investment from India to Peru and vice versa, he said.
The Ambassador emphasized recent diplomatic attempts between India and Peru, including a trip by Peru's Foreign Ministry to India in March and an invitation to External Affairs Minister Jaishankar to visit Lima later this year.
We have a wonderful relationship. The Peruvian Foreign Ministry visited India in March of this year. We invite Mr. Jaishanker to Lima; I believe he plans to visit at the end of the year, he said.
The ceremony was hosted by the Honorary Consul of Peru in Chennai, R Dinesh, and the Chairman of TVS Supply Chain Solutions, emphasizing the increasing economic and cultural links between the two countries.
Dinesh emphasised the potential synergies between India and Peru, citing Peru's abundant mineral resources and the many advantages that the South American country might gain from India's large industrial base.
Given Peru's abundant mineral resources and the numerous advantages of the manufacturing industry, which has a significant presence in Tamil Nadu, we are very pleased that the government is supporting this effort to ensure that we have more opportunity for expansion, he said.
The Indian government is currently in negotiations for a free trade agreement, as the commerce minister stated. That is something we are really looking forward to from the industry, particularly in South America. Peru has one of the most robust economies, making it an excellent place to source land and other minerals, as well as explore other trade opportunities. So the Indian government is viewing this favorably, and we are quite pleased with it, according to Dinesh.
Tamil Nadu's IT Minister, Palanivel Thiagarajan, was present as the Chief Guest. The festivities also included a unique session titled IndiaPeru: Business and Beyond, which looked at economic partnership, investment possibilities, and cultural exchange.
We are commemorating Peru's 204th Independence Day, however I believe the goal was to highlight the prospects for economic and cultural interaction between Tamil Nadu and Peru. Dinesh said that we had the opportunity to hear the Ambassador and other individuals who have invested in Peru describe what they see as the advantages and significance of doing business in Peru.
Dignitaries from the diplomatic, commercial, and cultural sectors attended the occasion, demonstrating the developing bond between India and Peru.
