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July 16, 2003

The Department of Foreign Affairs of the Philippines and the Ministry of Foreign Affairs of Peru, hereinafter referred to as the "Parties",

DESIROUS to promote mutual understanding and cooperation between both countries;

REFLECTING the desire of both countries to develop and further enhance the friendly relations between both countries;

CONSIDERING that consultation and an exchange of ideas on bilateral relations and international matters of mutual interest would be of mutual benefit,

REAFFIRMING their conviction that the further development of friendly relations and cooperation between the two countries will contribute to international peace and security by means of creating mutual confidence, understanding and cooperation in international relations.

Have agreed as follows:

ARTICLE 1

The Parties shall conduct their consultations with the aim of reviewing all aspects of their bilateral relationship and to exchange views on bilateral and international affairs of mutual interest.

ARTICLE 2

The Consultations shall include, inter alia, a review of the relationship in the political, economic, commercial, investment, tourism, financial, industrial, scientific, cultural, educational, social, sport, technical and technological fields.

ARTICLE 3

The Parties agree that the consultations should be conducted in the spirit of flexibility and cooperation and that the modalities for the consultations, including the determination of dates, venue, agenda, and level of representation, shall be determined by mutual agreement through diplomatic channels.

ARTICLE 4

The Parties may set up working groups or experts meetings in order to discuss specific areas of common interest.

ARTICLE 5

The present agreement shall enter into force on the date of the later written notification by either of the Parties, through diplomatic channels, indicating that the domestic requirements for its entry into force have been complied with. It shall remain in force unless one of the Parties terminates it in writing through diplomatic channels, by giving six months prior notice.

ARTICLE 6

The Protocol may be amended upon mutual agreement of the Parties. These amendments shall enter into force in accordance with Article 5 on entry into force.

ARTICLE 7

The termination or suspension of the present Protocol shall not affect the execution and duration of any arrangement made under the present Protocol until the completion of such arrangement.

Signed in the City of Pasay, Metro Manila, on the 16th day of July 2003, in two languages, English and Spanish, both texts being equally authentic.