Puerto Rico And Peru Sign Memorandum To Reinforce Commercial Interactions

In a ceremony attended by President Ollanta Humala and Governor Alejandro García Padilla, on June 11th, the governments of Peru and Puerto Rico signed a memorandum of understanding aimed at promoting their commercial and educational dealings. Among other things, the memorandum indicates that they intend to “strengthen and promote business development, knowledge transfer and cooperation in medical services, education and infrastructure.” Further, Puerto Rico is looking to Peru to help it to expand medical tourism, agricultural trade and cultural projects. As part of the memorandum they will create a working group that will look to follow up on the agreements.

Although Governor García Padilla did not speak at the signing ceremony, as he was leaving he said: “We continue building important alliances with our brothers in Latin America.” This is the second memorandum of understanding signed by the Government of Garcia Padilla with a Latin American country. The first was with the Dominican Republic.

On the same day, the United States and Peru also signed a memorandum of understanding on promoting growth of micro, small and medium enterprises. Under this memorandum, the two countries will bolster their partnership and collaboration on activities to promote the growth of micro, small and medium enterprises through support of the Small Business Network of the Americas, the Women’s Entrepreneurship in the Americas and other efforts.

Jose A. Aquino is a Special Counsel in the New York Office of Duane Morris LLP, where he focuses his practice on commercial litigation and is a member of the Puerto Rico Business Group.

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The opinions expressed on this blog are those of the author and are not to be construed as legal advice.

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