On 24 April 2006, in Geneva, Switzerland, Peru and the EFTA member states -- Iceland, Liechtenstein, Norway and Switzerland -- signed a Declaration on Cooperation. The objectives of the Declaration are to enhance economic relations and to establish a framework ofr the expansion, diversification and liberalisation of trade and investment. The Declaration establishes a Joint Committee to review cooperation in areas referred to in the Declaration, to discuss areas of mutual interest and to formulate appropriate recommendations on cooperation.
On 4 June 2007, Peru and the EFTA States announced their decision to launch free trade negotiations. The second round of bilateral negotiations culminated on 31 August 2007. Peru and EFTA held the third round of negotiations in San Isidro on 6 November 2007.
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