Peru and Venezuela Prepare Trade Talks

Lima, May 13 (Prensa Latina) Peru and Venezuela are set to begin negotiations to keep the tariff benefits of the Andean Community of Nations, even though Caracas is not part of the bloc anymore, the Peruvian government announced Friday.

A government decree says representatives of both governments will meet from Wednesday to Friday in Caracas, in the first round of negotiations on the production and trade agreement.

The negotiations were agreed upon last April in Caracas by the foreign ministers of Peru, Jose Garcia Belaunde, and Venezuela, Nicolas Maduro

At that time, the two foreign ministers also agreed to maintain the Andean Trade Preferences for a 90-day period, which expires in July, before Venezuela’s withdrawal from the CAN goes into effect.

Venezuela left the bloc because it believes the principles of the Andean negotiations were destroyed by members such as Colombia and Peru, which negotiated free trade treaties with the United States.

Garcia Belaunde said after his visit to Venezuela, that he expects the new agreement on trade and production to be ready by July, to replace the Andean Trade standards.

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