ISDS Case Map
Peru
The negotiations between the two countries started way back in 2017 and had to be paused when the Covid-19 pandemic literally brought to a standstill.
India and Peru are trying to speed up talks on the proposed bilateral free trade agreement and have scheduled the seventh round of negotiations in New Delhi, from April 8, prior to which offer lists on goods and services are likely to be exchanged.
Peruvian and Moroccan trade leaders are exploring the possibilities of a bilateral free trade agreement to strengthen their economic relations and expand their trade cooperation.
The UAE and Peru have announced that they will start talks for a free trade agreement later this year.
India and Peru are entering the sixth round of talks for a bilateral Free Trade Agreement, with a key challenge being tariff concessions on gold. Concerns arise over a potential surge in gold imports, similar to the India-UAE Free Trade Agreement, as gold comprises 80% of India's imports from Peru, valued at $1.8 billion in 2022-23.
India hopes to conclude the FTA at the earliest as the South American country has the large deposits of lithium.
Negotiations for the agreement started in 2017 and the fifth round was concluded in August 2019. The negotiations were paused due to the coronavirus pandemic.
India has been pursuing a trade agreement with Peru since 2017. The two countries held the 6th round of negotiations last month and talks are scheduled to be held again in December.
Peru expects to sign two free trade agreements (FTAs) with India and Hong Kong, for which it has been working actively so that talks can be concluded in 2024.
A special round of negotiations for the India-Peru trade agreement is set to take place during 10-11 October and will include an investment chapter.
