LIMA, Feb 15 (NNN-ANDINA) - Peru and the European Union (EU) will hold its ninth round of FTA negotiations on Feb 22-26 in Brussels (Belgium), the Ministry of Foreign Affairs said.

The negotiations will tackle sensitive issues of significant importance for Peru which have not been resolved yet.

The Foreign Ministry said that during the eighth round held in Lima from Jan 18 to 23 great progress contributing to the closing and completion of the negotiation process in the next round.

In in Lima, officials made progress on the tables of Agriculture, Rules of Origin, Intellectual Property, Services and Investment, Institutional Issues and Dispute Settlement and Sustainable Development.

Meanwhile, the Lima Chamber of Commerce (CCL) reported that the investment in research and development (R&D) in Peru amounts to 0.1 percent of the Gross Domestic Product (GDP), much lower compared with other countries of the region.

Brazil invests in R & D resources representing 0.8 percent of its GDP, Costa Rica invests 0.4 percent and Chile 0.7 percent.

Economies like China, South Korea and Singapore invest 1.2, 2.8 and 2.2 percent, respectively.

Because Peru has set as a goal to be located in the arena of first world economies for 2021, different guidelines should be established to improve the competitive framework for companies in global markets, the CCL said.

The organisation added that in these guidelines it must be included the investment in innovation, which not only expands the living standards of the population but also improves the frontier of knowledge in the country.

In order to achieve this, we need an appropriate environment for innovative activity supported with specific policies designed by the public sector and actively developed by the private sector, it added. -- NNN-ANDINA