Trade deal set with Peru
US Trade Representative says it will sign free trade agreement Wednesday with South American nation.

WASHINGTON -(Dow Jones)- The U.S. and Peru will sign a free-trade agreement Wednesday, the U.S. Trade Representative's Office said in a statement Tuesday.

Peruvian President Alejandro Toledo and Foreign Trade and Tourism Minister Alfredo Ferrero Diez Canseco will join U.S. Trade Representative Robert Portman in a signing ceremony in Washington, USTR said.

In January, USTR notified Congress that it had completed negotiations on a bilateral trade agreement with Peru, triggering a 90-day waiting period before the deal could be signed. It will then await approval from the two nations' legislatures.

Portman, eager to avoid the problems that the Central American trade agreement encountered, has been meeting with U.S. lawmakers to gauge support for the deal. Democrats have urged tougher provisions on labor standards.

Portman has said he is hopeful Congress will approve the deal later this year.

Toledo, speaking Tuesday on CPN radio, said many Peruvian lawmakers have taken part in negotiations and he expects his nation's Congress to approve the deal.

The Peru agreement - along with one negotiated with Columbia in February and a potential deal with Ecuador - would make up part of a broader U.S.-Andean Free Trade Agreement.

However, negotiations between the U.S. and Ecuador have moved more slowly, largely because of disagreements on agriculture.

Last week, Ecuadorean Trade Minister Jorge Illingworth said trade negotiations in Washington had narrowed the gap over agriculture issues. Illingworth said he expected talks to resume in May.

-By Elizabeth Price, Dow Jones Newswires; 202-862-9295; Elizabeth.Price@ dowjones.com

( Robert Kozak in Lima contributed to this report.) (END) Dow Jones Newswires 04-11-06 1711ET Copyright (c) 2006 Dow Jones & Company, Inc. Top of page

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Market indexes are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer LIBOR Warning: Neither BBA Enterprises Limited, nor the BBA LIBOR Contributor Banks, nor Reuters, can be held liable for any irregularity or inaccuracy of BBA LIBOR. Disclaimer. Morningstar: © 2012 Morningstar, Inc. All Rights Reserved. Disclaimer The Dow Jones IndexesSM are proprietary to and distributed by Dow Jones & Company, Inc. and have been licensed for use. All content of the Dow Jones IndexesSM © 2012 is proprietary to Dow Jones & Company, Inc. Chicago Mercantile Association. The market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. FactSet Research Systems Inc. 2012. All rights reserved. Most stock quote data provided by BATS.