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Peru has chances to increase commerce with the U.S.

Staff Writer |
Peru has the opportunity to expand trade with the United States mostly underpinned by manufactured products, U.S. Commerce Secretary Wilbur L. Ross affirmed.

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During his participation at the III CEO Summit of the Americas, the high-ranking official noted how important his country is for Latin America's foreign trade.

Trade balance with the North-American country has been negative for Peru over recent years.

According to the Association of Peruvian Exporters (Adex), exported products amounted to US$6.899 billion, whereas imported goods stood at US$ 8.058 billion in 2017.

However, non-traditional exports increased steadily since 2010 as they totaled US$1.969 billion and reached US$3.374 billion in 2017.

It must be noted Peru and the United States signed a Free Trade Agreement (FTA) in April 2006, which took effect on February 1st, 2009.

On the other hand, the U.S Commerce Secretary stressed his nation has interest in boosting trade with Latin American countries.

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