New Delhi, Nov 28 (KNN) Economies of India and Peru are complementarities and have developed firm, consistent relationship based on common values, said Jorge Castaneda, Ambassador at Embassy of Peru in India while addressing a Seminar on Benefits of the Trade Agreement between India and Peru organized by Federation of Indian Chambers of Commerce and Industry (FICCI) in New Delhi.

The Ambassador said that the diplomatic relationship with India was established 55 years ago in 1963 and has been strengthened. He noted that the two nations signed their first bilateral trade agreement in 1971 to ensure smooth and easy trade flows.

The Ambassador said that the 2017 is the key year to foster bilateral trade between two countries as the negotiations are going on for the next agreement.

He added that the new agreement is India’s first comprehensive trade agreement with any Latin American country. (KNN/AG)