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Cablegate: November Trade and Investment Briefs

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RR RUEHAO RUEHCD RUEHGA RUEHGD RUEHGR RUEHHA RUEHHO RUEHMC RUEHMT
RUEHNG RUEHNL RUEHQU RUEHRD RUEHRG RUEHRS RUEHTM RUEHVC
DE RUEHPE #1864 3381954
ZNR UUUUU ZZH
R 031954Z DEC 08
FM AMEMBASSY LIMA
TO RUEHC/SECSTATE WASHDC 9692
INFO RUEHWH/WESTERN HEMISPHERIC AFFAIRS DIPL POSTS
RUCPDOC/DEPT OF COMMERCE WASHINGTON DC
RUEHRC/DEPT OF AGRICULTURE WASHINGTON DC
RHEBAAA/DEPT OF ENERGY WASHINGTON DC
RUEATRS/DEPT OF TREASURY WASHINGTON DC
RUEHC/DEPT OF INTERIOR WASHINGTON DC
RHEHAAA/NATIONAL SECURITY COUNCIL WASHINGTON DC
RUEAIIA/CIA WASHDC

UNCLAS LIMA 001864

SIPDIS

COMMERCE FOR 4331/MAC/WH/MCAMERON
TREASURY FOR MEWENS
USTR FOR BHARMAN AND MCARRILLO

E.O. 12958: N/A
TAGS: ETRD ECON EFIN USTR PE

SUBJECT: NOVEMBER TRADE AND INVESTMENT BRIEFS

SUMMARY
-------
1. (U) This is an update on the following trade and
investment news from Peru:

Trade
-- Peru and China Close Trade Negotiations
-- Peru and Mexico Trade Agreement - Issues Remain
-- Peru and Japan Advance towards FTA

Investment
-- Koreans Visit Peru Looking for Business Opportunities
-- Peru Remains No. 2 for Investment in Latin America

PERU AND CHINA CLOSE TRADE NEGOTATIONS
--------------------------------------
2. (U) Peru and China announced the close of trade
negotiations during APEC Leader's Week. The legal
revision and translation of the trade agreement
document will occur over the next three to four months.
The Peruvian Minister of Trade and Tourism noted that
the agreement will most likely go to Congress no later
than June 2009.

PERU AND MEXICO TRADE AGREEMENT - ISSUES REMAIN
--------------------------------------------- --
3. (U) During his visit to Peru for APEC, the President
of Mexico, Felipe Calderon, noted the need for creative solutions to
conclude the free trade agreement between
Mexico and Peru. He acknowledged that agreement on some
agricultural products remains one of the outstanding
issues. President Calderon mentioned that the two
countries will likely reach an agreement in early 2009,
if not sooner.

PERU AND JAPAN ADVANCE TOWARDS FREE TRADE AGREEMENT
--------------------------------------------- ------
4. (U) The Peruvian Minister of Trade and Tourism
announced that the Peruvian and Japanese private sector
will complete a feasibility study over the next few months.
In February 2009, the two countries will likely begin formal trade
negotiations towards a comprehensive trade agreement.

KOREANS VISIT PERU LOOKING FOR BUSINESS OPPORTUNITIES
--------------------------------------------- --------
5. (U) Between November 24 and December 6, 20 representatives
of the Association of Korean Importers will visit Brazil, Uruguay,
Argentina and Peru looking for new markets. The investors are
interested in identifying new markets for
primary materials as well as consumer goods products.

PERU REMAINS NO. 2 FOR INVESTMENT IN LATIN AMERICA
--------------------------------------------- -----
6. (U) Peru remains in second place in the Economic
Climate Index (ECI) for investments in Latin America
with 5.7 points, compared to 7.4 points in January,
according to the study by the Getulio Vargas Foundation in Brazil
and the Institute IFO of the University of Munich (Germany). The
ICE is the average between the Present
Situation Index (ISA), which measures the assessment
of 131 specialists from 15 countries in the region
about the current situation, and the Expectations
Index (EI), which reflects what the respondents expect
for the future. The overall environment for business
in Latin America fell to 4.2 points in October, below
the 5.7 points registered in July this year. Uruguay
remained at number one with six points, followed by
Peru (5.7 points), Brazil (five points) and
Paraguay (4.1 points).

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