Living in Peru : your everyday companion

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

These important agreements added to the already existing ones with countries like the United States, Chile and Thailand that already enables the access of our products to markets filled with dynamism and capability. Once the rules are clear and well established towards investment, these agreements will attract productive capital that will stimulate our growth even more. As if this wasn’t enough, once the bilateral commerce is opened with the elimination of taxes and other obstacles, our industry will have access to capital goods, as well as machinery and cheaper technology which will benefit, without a doubt, our competitive edge.

Canada and Singapore are fundamental partners to our country. The first one, for the transcendence and vastness of its market, and the second one, for the opportunity of attracting investment and importing technology.

In Canada’s particular case, the agreement faces us with the possibility of opening our sales and diversifying our non-traditional offers taking advantage of the tariff preferences from the agreement. Hence, the most important sectors enjoying the benefits offered by this agreement are the textiles and manufacturers, the agro industry, the fishing industry and the chemical industry. It is important to mention that commerce with Canada already registers an interesting annual growth pushed fundamentally by the mining exports; nevertheless, thanks to the imminent entry in force of the agreement, our exports will be able to diversify sales to such market and export all sorts of goods and services with a high added value.

On the other hand, in spite of being an attractive market, Singapore is offering Peru great opportunities in terms of investment promotion. Due to the fact that it’s a tax free economy for almost all its imported products, our country already has open access to its market without major obstacles but the physical distance and the language barrier.

In as much, the agreement with Canada – the ninth economy with the biggest imported revenue in the world will allow us to access 34 million consumers with an annual revenue of US $33,000, and the Free Trade Agreement with Singapore, - a world wide leader of infrastructure and information technology – will both allow us to expand our growth possibilities.

Therefore, dear reader, thanks to the aggressive strategy of commercial integration taken by our country, Peru will soon have preferential access to the markets of its commercial partners and better possibilities to consolidate growth rates that will favor the reduction of poverty that, in spite of the observed evolution, still oppresses the majority of Peruvians.



*Translated by Joceline Frank

Frankly Speaking Inc.