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French President Hollande visits Peru, in hope of boosting bilateral trade ties

Xinhua, February 24, 2016 Adjust font size:

French President Francois Hollande on Tuesday met with his Peruvian counterpart, Ollanta Humala, in Lima, the national capital of Peru, hoping to boost bilateral trade ties.

Hollande, accompanied by a large delegation of business leaders keen to explore investment opportunities in Peru, arrived Tuesday morning for a three-day visit to this Andean nation starting Tuesday.

Hollande's visit is the second by a French head of state in 52 years, which has drawn wide attention in Peru, a country where French culture is popular.

After the meeting, the two leaders also oversaw a ceremony where around 20 bilateral agreements were signed, involving science, defense, aerospace, transport, climate change, and the fight against terrorism and drug trafficking.

The deals struck in the day included Peru's purchase of a French observation satellite, which is worth 205 million U.S. dollars and will be launched in May.

Hollande will also attend an economic forum scheduled to be held in the day, bringing together French and Peruvian entrepreneurs, according to a press release by the Peruvian Ministry of Foreign Affairs.

Annual bilateral trade between the two stood at 632 million U.S. dollars in 2015, up from 616 million U.S. dollars in 2014. Foreign direct investment from France has kept rising in Peru, with French companies investing around 220 million U.S. dollars in numerous sectors in the country last year.

Hollande will also travel to Argentina and Uruguay, in hope of promoting trade, investments and French interests in the region. Endit