A free trade deal was signed by representatives from Canada and Peru on January 26 following months of discussions. The agreement was signed in Davos, Switzerland, at the World Economic Forum.

The two countries hope this will improve bilateral trade, which totalled $2.4 billion in 2006.

Among other things, the agreement will see Canada’s 18% import tariffs on Peruvian textile and agricultural goods.

"This free-trade agreement with Peru will further solidify our trade and investment relationship and open up opportunities for Canadian business in a range of sectors," said international trade minister, David Emerson.

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