Peru, Paraguay sign commercial agreement

Peru and Paraguay inked here on Wednesday a frame agreement of cooperation aimed at developing and strengthening bilateral business and economic relations.

The agreement was signed by Peruvian Foreign Trade and Tourism Minister Martin Perez and Paraguayan Foreign Minister Hector Lacognata.

Perez said the agreement contributes to sharing commercial information and promoting exports.

Both sides also promised to hold an annual meeting to discuss yearly work plan, which will focus on the exchange of information and expertise in economic development.

The trade volume between Peru and Paraguay was 196.1 million U.S. dollars in 2009 and 27.6 million dollars in the first quarter of this year.

Source:Xinhua