The Association of Peruvian Exporters (Adex) affirms the trade agreement with India, whose negotiation process will kick off in June, will bring investment and development opportunities to Peru.
“Trade openness is key for economic growth, but it is evident that some job-creating sectors might be affected, hence the importance of clear government moves and the establishment of necessary mechanisms, during the negotiation process, to strengthen and make those activities more competitive,” Adex Chairman Juan Varilias commented.
He recalled Adex identified 270 untapped opportunities with India worth US$2.416 billion.
“Here at ADEX, we support the negotiations. We are confident the signing of this trade agreement and the measures that might be adopted to make those sectors more competitive will allow us to make good use of opportunities,” he said.
Exports
Peruvian exports to India totaled US$931.3 million in 2016, up by 40% from 2015, due to higher shipments of gold and copper, which grew 26.4% and 88.9%, respectively.
Likewise, national exports amounted to US$59.6 million in January, showing a 16.4% fall, due to lower shipments of gold and because copper and its concentrates were not exported.
However, he highlights the increase in grape exports, whose sales went up from US$277,000 in January 2016 to US$740,000 in January 2017.
As for trade balance, the exporters’ association said it closed 2016 with positive figures after several years.
Exports amounted to US$931.3 million, while imports totaled US$803.1 million, which yielded a positive trade balance of US$128.2 million.
(END) RGP/RGP/RMB
Published: 3/12/2017