Peru and the United Arab Emirates agree to start negotiations to reach a trade alliance

The Minister of Foreign Trade and Tourism, Juan Carlos Mathews, after holding a meeting with his counterpart from the United Arab Emirates, Thani bin Ahmed Al Zeyoudi, reported that it was agreed to begin negotiations, in the coming months, to reach a trade agreement.

This announcement was made during the framework of the 13th Ministerial Conference of the World Trade Organization (CM13), which is being held in Abu Dhabi, United Arab Emirates, in which the head of the sector has been participating.

As noted, the UAE is Peru’s main trading partner in the Middle East and represents a market of 9.4 million potential consumers, with a GDP per capita of US$52,000. This country imports 90% of its food needs, which represents great opportunities for Peruvian exports, especially in the agricultural sector.

It is important to note that UAE Trade Minister Thani bin Ahmed Al Zeyoudi is also Chairman of the 13th WTO Ministerial Conference. For this reason, during the working meeting, Minister Mathews reiterated Peru’s commitment to the multilateral trading system, and to the achievements in terms of fisheries subsidies, agricultural trade reform, electronic commerce, WTO reform, among others. .

Peru’s participation in CM13 is of importance due to the agreements and decisions that are discussed, which can lead to important results this week. Minister Mathews, during his stay in Abu Dhabi, has participated in the ministerial meetings of the Cairns Group and the Group of Ministers of Latin American Countries on Agricultural Reform of the WTO. Also, at the ceremony of accession of Brazil and Australia to the Global Trade and Gender Agreement.