US President George W. Bush met his Peruvian counterpart Alan Garcia on Friday to sign a free-trade agreement between the nations they preside. During their speeches held after the signing of the document, both presidents took the opportunity to hint that the pact they’d agreed upon is, besides an effort to boost up relations with Latin America, a “poke in the eye” addressed to Venezuela's Hugo Chavez and his ally, Cuban President Fidel Castro, a White House official said.

During the signing ceremony, President Bush took urged US lawmakers to pass analogous agreements with other South American states like Panama or Colombia. He added that all of Latin America was watching "to see what this Congress will do when it comes to how we treat our friends."

"The champions of false populism will use any failure to approve these trade agreements as evidence that America will never treat other democracies in the region as full partners," Bush said in his statement.

President Bush added that trade is one of the most important elements when it comes to economic growth and helping eradicate poverty. He added that Peru is one of the fastest-growing economies in the Western Hemisphere and the Andean country proved it by expanding last year by more than 7.5 percent.

"Wish he'd lend us a couple of percent," Bush joked.

The treaty was approved by the Senate on Dec. 4 after a 285-132 House vote last month.
The treaty will began to implement after the two countries adjust laws needed to abide by it.

The greater part of Peru’s products already have duty-free access to the US. The above mentioned agreement will allow Americans equal access to the emergent Peruvian market. Bush also pressed lawmakers to approve the US-South Korea FTA.