Peruvian Textile Exports Can Spur Trade Between Peru and The US in The Coming Years

If textile exports pick up pace, it can spur trade between Peru and the United States in the coming years, U.S. Ambassador in Lima, Rose M. Likins has said.
 
Speaking at the Peru-United States Forum, organized by the American Chamber of Commerce of Peru (AmCham Peru), Ms. Likins said trade between Peru and the US has more than doubled since the Peru-US free trade agreement (FTA) was signed in 2008.
 
She said the bilateral trade between Peru and the US was around US$ 16 billion in 2012, and it is expected to grow to US$ 16.5 billion in 2013.
 
She added that the trade could further grow in the coming years if textile exports pick up, Peruvian news agency andina reported.
 
Textiles, including garments, have been a major component of Peruvian exports to the US, and trade would rise if there is a recovery in this sector, Ms. Likins said.
 
In 2012, the US imported US$ 642.585 million worth of textiles and apparel from Peru, compared to imports of US$ 743.427 million made in 2011.
 
During the first five months of 2013, the US imported US$ 272.776 million worth of textiles and clothing from Peru, according to the Major Shippers Data from the Office of Textiles and Apparel (OTEXA), U.S. Department of Commerce.