Living in Peru : your everyday companion

Info provided by the
American Chamber of Commerce of Peru (AmCham Peru)

Second of all, this fifth reunion of chiefs of states confirmed that the European Union, in spite of the physical distance is a strategic partner for Latin America and the Caribbean and even though, the major ideas that were discussed by the presidents in the Lima Declaration are not specific in their action plans nor do they have determined time frames, they certainly sow the seeds and cement the foundations from which our countries must work in order to erase poverty, illiteracy, infant malnutrition and social inequality.

The Summit was an ideal platform to insist in our countries need for certain flexibility for each of the Andean countries to be able to negotiate at different rates and rhythms with the European Union in the hopes of concluding an agreement of partnership which will include a free trade agreement. Certainly our country, as opposed to Bolivia and Ecuador, has a much clearer will to rapidly advance and reach an agreement that may allow, amongst other things, the guarantee of placing our tax free products in the European markets and to better promote and seduce European investment.

We should not forget that the European Union consisting today of 27 nations, is one of the fundamental markets for our products, especially so for the non traditional agricultural ones. Europe receives 17% of our exports and 39% of those correspond to the agricultural sector. It is also interesting to emphasize that during the year of 2007, we sent a total of USD 4,952 million to the European Union, which represented an increase of 7% exports compared to the year before. Nevertheless, in spite of the favorable commercial effort with Europe, it is evident that there is still a lot to take advantage from, as our country barely exports 2,000 products to these countries.

It is obvious then, that we need to diversify our export offers and the export market, due to the vast capacity of the European market, to reach a commercial agreement with them would allow us to put new products with a higher value in new destinations.

Hence, dear reader, as in the case of the U.S., the European Union is and should remain to be a strategic ally for our country. Not only because their market is huge and attractive, but also because of the possibility of mutual social cooperation and environmental care. All of the above was shown clearly in the recent Summit that also was, for the happiness of all Peruvian people, a high point of reaching the real Summit in our nation.



*Translated by Joceline Frank

Frankly Speaking Inc.