Peru expects 40,000 new jobs from FTAs with U.S., China, EU

09:49, February 25, 2010      

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At least 40,000 Peruvians or one in every 730 people will find jobs thanks to the implementation of their country's free trade agreements with the world's major economic entities.

The news was broken Wednesday by the Peruvian labor minister, who was quoting a study done by the Inter-American Development Bank.

The bank study said that the Peru-U.S. free trade agreement will boost employment in the manufacturing and textile sectors while its free trade accords with China and the European Union will benefit job creation in agriculture and agro-processing.

The government of Peru was advised that employment could quadruple if the government provides training in job skills and promotes investment in infrastructure.

Peru has a labor force of over 10 million, of which more than 75 percent are employed by the country's service industries. But the jobless rate has been hovering around 8 percent.

Source: Xinhua
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