Attendees to the upcoming APEC Leaders' Summit will find a country with stronger macroeconomic fundamentals compared to 2008, when Peru hosted the event for the first time, former Production Minister Kurt Burneo said on Wednesday.
"There is no doubt the country will show better macroeconomic indicators, such as fiscal solvency. It is not fortuitous that Peru has secured a good place for this indicator of the World Economic Forum report, ranking close to developed countries," he told Andina news agency.
The economist underlined that macroeconomic strengths are present in the country; however, this is a necessary but not sufficient condition for improving Peruvian economy's competitiveness.
"We have to move forward towards innovation, technology development and institutional strengthening to improve competitiveness. We are talking about various conditions that need to be met," he commented.
Opportunities for Peru
Hosting APEC Leaders' Summit will produce a series of opportunities to do additional business and attract new investors.
"If the national economy's competitiveness doesn't improve, APEC will continue to be an opportunity that nobody takes advantage of," said the CENTRUM Catolica Business School professor.
He went on to add the country must target long-term advantages rather than short-term ones.
"We have to look way beyond the event; this will give us the chance to reach new markets," he added.
(END) SDD/JJN/RMB/MVB
Published: 11/9/2016