Free trade agreement with United States is key, says Peru's prime minister

By Reshmi Basu

New York, April 25 - The passage of a free trade agreement between Peru and the United States is critical for Peru's growth prospects, said prime minister Pedro Paulo Kuczynski at a Latin America conference held by Fitch Ratings on Tuesday.

He said that such an agreement would permanently open access to the country's textile and agricultural industries.

On April 13, both countries signed the bilateral free-trade treaty, which had been in the pipeline for about two years.

Peru nationalist presidential candidate Ollanta Humala has openly said that Peru should reject the terms of the treaty. And if elected, he would fight its passage.

In his comments Tuesday, Kuczynski conceded that if Humala were to win the run-off election, the treaty would most likely be vetoed.

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