An interview with Peru’s Interbank: Doing business in China

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What are the most active sectors?
The traditional sectors such as mining and fisheries (copper, iron, fish meal) are still the ones that participate the most, but there is also the presence of other products such as timber, frozen squid, fruits, alpaca, among others.

In 2007, Interbank opened its first office in China to offer services to Peruvian companies entering the giant Asian market.Regarding Interbank, how has your experience in this market?
It has been very favorable. The import and export operations that we channeled through our trading company (in Hong Kong and Shanghai) also carried a financial settlement in Peru through the bank, which allowed us to incorporate 100 new customers per year.

What are your plans for this year?
Our projects in the short and medium term in China are aimed at strengthening the business support service for our customers in China and channeling Chinese investments in Peru in partnership with Chinese banks and through Interbank (in addition to enhancing and consolidating our Trading Company).

After a year of crisis, what are your projections for 2010?
This year the expectations of business with China are good, given the estimated growth of its economy that are greater than 9 percent for 2010. Furthermore, the implementation of the free trade agreement between Peru and China will intensify economic relations between both countries.

Adapted and translated from Spanish by Diana Schwalb

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