President Bush has praised Peru's President Alejandro Toledo during a White House visit expected to be the last during the Peruvian leader's tenure.

After talks in the Oval Office Friday, Mr. Bush repeatedly called Mr. Toledo his friend and said the Peruvian leader will pass on a wonderful legacy - a stable economy and political process. Mr. Bush also praised the U.S.-Peru free trade agreement signed late last year.

Mr. Toledo said the United States and Peru are partners not just in the free trade agreement, but in fostering democracy and fighting drug trafficking and terrorism. He added that he will consider Mr. Bush a friend even after both have left office.

Peru holds presidential elections later this year.