Peru’s exports to Venezuela to hit US$1bln a year

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Peru’s Ministry of Foreign Trade and Tourism (Mincetur) said Thursday that Peruvian exports to Venezuela may amount to 1 billion dollars per year due to the benefits of the Trade and Productive Complementation Agreement.

Minister Jose Luis Silva said there has been a slowdown of Peruvian exports to Venezuela in the last years. However, exports increased during 2011 and totaled over 600 million dollars.

Minister Silva said he has made arrangements with his Venezuelan counterpart so that a large group of Peruvian exporters visit Venezuela and evaluate the possibilities for their products.

“Lets keep in mind that there is export potential of footwear for the people of Trujillo (northern Peru), textiles for the people in Gamarra (a garment-making cluster in Lima’s La Victoria district) and we have a lot of potential in agro exports,” said Minister Silva.

Moreover, the minister said that Peruvian exports may increase up to nine percent this year; thus, total exports would total 49 billion dollars.

Peru’s total exports are expected increase up to nine percent this year.

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