(24 Jul 2012) STORYLINE:
Spain's foreign affairs minister praised Peru for its political stability and growth in an official visit to the country on Tuesday.
Jose Manuel Garcia Margallo said Peru's ability to maintain growth in the current economic climate made it an ideal destination for Spanish investment.
Peruvian foreign minister Rafael Roncagliolo praised the new cooperation as coming at a time "when international cooperation is declining generally in Latin America and in Peru."
On Monday Garcia Margallo met with President Ollanta Humala to discuss expanded economic cooperation as Spanish companies, under increasing pressure at home, seek new venues for investment.
Spain is Peru's largest source of direct foreign investment.
The next stop on Garcia Margallo's Latin America trip is Ecuador.
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