Lima - Peru and Canada on Thursday signed a free-trade agreement that Peruvian President Alan Garcia said will strengthen the South American country's growth and open up an important export market for its goods.

Officials from both countries hailed the relatively quick negotiations for the deal - which was signed in Peru and still needs to be ratified by both countries - as evidence of their converging interests.

"With its great natural riches, a great speed in investment and work, Canada opens its doors to Peru, and vice versa, to have an opportunity to grow together," Garcia said.

The Peruvian president said the deal will create thousands of jobs in his country and open a very broad market for its exports, which include minerals, textiles, fruit, vegetables and wood.

"That will help Peruvian exports move forward and multiply more easily," he said, noting that bilateral trade currently stands at 1.78 billion dollars and is set to increase.

"Canada is eight times larger than Peru and (has) an annual production that is 10 times greater," Garcia said.

Canadian Prime Minister Stephen Harper praised Peru for its stability and influence in Latin America, as well as for recent successes in its fight against poverty and corruption, in a letter read out by Canada's Secretary of State Helena Guergis.

Guergis noted that Canada is seeking a greater presence in South America and sees the deal as a great economic opportunity.

Later Thursday, Peru was set to sign a free-trade agreement with Singapore as part of an effort to boost ties with the countries in the Asia-Pacific region. (dpa)