BUENOS-AIRES, March 5 (RIA Novosti) - The authorities of Peru have extended to Russia a proposal to conclude an agreement on free trade between the two countries, Peruvian news agency Andina reported on Tuesday.

Peru’s Minister of Foreign Commerce and Tourism Jose Luis Silva sent a letter proposing a free trade to Russian Industry and Trade Minister Denis Manturov, the agency said.

“Minister Jose Luis Silva held official talks with his Russian colleague, while we met with representatives of Russian authorities,” minister’s deputy Carlos Posada was quoted as saying.

According to the Russian Foreign Ministry, trade between Russia and Peru totaled $726 million in 2012 and has a significant potential for further growth.