Peruvian apparel exports to Iceland are likely to grow due to the coming into force of the Peru-Iceland Free Trade Agreement (FTA) on October 1.
The FTA between the two countries was negotiated under the trade agreement with the European Free Trade Association (EFTA).
The Andean nation produces apparels from cotton, alpaca and vicuña fibre, and there is great potential to increase their exports to Iceland, Jose Luis Silva, Peru's Minister of Foreign Trade and Tourism stated.
Currently, Peruvian exports to the European island country are worth around US$ 8 million.
So far, Peru's export of apparels is largely owing to the Andean Trade Promotion and Drug Eradication Act (ATPDEA) which gives duty-free access to several items of four Andean nations including Peru, to the US.
Fibre2fashion News Desk - India
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