Mexico May Soon Reach Free Trade Deal With Peru, Ferrari Says

Mexico’s government is close to reaching a free-trade agreement with Peru that would more than double the country’s exports to the South American nation, Economy Minister Bruno Ferrari said.

Mexico currently exports $974 million a year to Peru, which represents 0.3 percent of Mexican exports and accounts for 3.4 percent of Peru’s imports, according to a document Ferrari presented at Congress today.

Mexican exports to Peru would increase to $2.7 billion under a free-trade agreement, the document said.

Mexico’s Senate must ratify trade agreements reached by the government, according to Mexican law.

To contact the reporters on this story: Adriana Lopez Caraveo in Mexico City at adrianalopez@bloomberg.net; Jens Erik Gould in Mexico City at jgould9@bloomberg.net

To contact the editor responsible for this story: Bill Faries at wfaries@bloomberg.net