In a speech delivered at the conference "FTAA: A Strategic View,"  Diez-Canseco said the hemispherical trade agreement is important for Peru's exports.

"As Peru moves toward the FTAA, the issue of trade is complex, but we are clear about our export-oriented agenda," he said.

Peru is among the group of South American countries favoring the establishment of the FTAA. Brazil and Venezuela are the main opponents.

Initiated by a US-sponsored proposal at the First Summit of the Americas in Miami, Florida, in 1994, the FTAA aims at eliminating trade barriers among 34 nations of the American continent.

If finalized, the FTAA will become the world's largest free trade zone with 784 million potential consumers, stretching from Alaska, the United States, to Argentina.