PERU LEVERAGES ITS INFRASTRUCTURE DEVELOPMENT

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  • Peru ranked as one of the fastest growing economies in Latin America and a top commodity exporter
  • Peru’s investment in transport infrastructural planned projects has tipped 14,440  
  • Peru fortifies trade initiatives with the MEASA region

 

According to global trade export figures, Peru has been ranked as the top country to achieve export growth across the Latin American region, and the world’s third largest as the fastest growing commodity exporter. The country has particularly highlighted its efforts and new plans to bolster trade relations with clean energy across the Middle East, in the latest Abu Dhabi International Petroleum Exhibition & Conference (ADIPEC) held last month.

This positive economic position is credited to Peru’s improved macroeconomic stability, investor-friendly legislative frameworks and availability of investment opportunities across various sectors. In addition to Peru’s rich reservoirs of natural resources, and continuous exports from different sectors such as agricultural products, textiles and precious metals, among many others.

Over the past ten years, Peru has been awarded with more than 100 public-private partnership (PPP) projects within various fields of infrastructure which attracted a large number of global investors, particularly from Asia. Peru has further invested in 31 different projects across numerous concessioned transport infrastructure projects which included the construction of 16 roads and seven ports.

The Callao port in Peru is considered the most important infrastructural trade port across the South American Pacific, mobilizing more than 31.4 million tons of cargo between countries. This is followed by the port of Matarani which transported 6.1 million tons of commodities in 2017 – and both of these ports have increased their export production capacity to 9.5% and 7.9% respectively within a year’s time.

Commenting on this, Alvaro Silva-Santisteban, the Director of the Trade, Tourism and Investment Office of Peru based in the UAE, said: “Peru is aiming to fully realize and utilize its infrastructural potential by upgrading operational port terminals, airports and the integration of a multimodal system as well as the development of mass transportation and intelligent traffic management systems.  This as an integral plan to further fulfill the infrastructural gap valued at US$ 160 bn until 2025.”

Relatively, Peru possess a very strong agricultural and precious metal supply bank making it the number one global exporter of fruits and vegetables such as asparagus, bananas, artichokes, quinoa and dry beans across the farming sector. The country is also the top exporter worldwide for zinc, lead and molybdenum. Peru is further ranked as a top ten global supplier of fishmeal and fish oil (world leaders in both), coffee beans, Brazilian nuts, berries, mangoes, grapes, avocados and textile products – which many countries worldwide reply on for their domestic consumption.

Last month, the Trade, Tourism and Investment Office of Peru attended the industry-leading Abu Dhabi International Petroleum Exhibition & Conference (ADIPEC) to outline and discuss its future plans to progress its natural energy and oil production capabilities across the Middle East region.

“Peru has one of the largest natural gas and hydroelectric power sources in Latin America, which comprises 90% of the country’s energy supplies Mr. Silva-Santisteban said speaking at the event. “In addition, Peru aims to export natural gas in the coming years, as it has the second biggest reserves in Latin America.”

“We also plan to triple our oil production capacity in the next five years, as well as aiming at increasing the number of basins explored.”

The four-day exhibition which took place in Abu Dhabi brings together thousands of influential oil and gas industry stakeholders and experts every year, to exchange their knowledge and ideas for the future of the energy sector.

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