Fostering and maintaining strategic alliances with UAE

Our Correspondent / EMIRATES BUSINESS

The Trade, Tourism and Investment Office of Peru in the UAE, is the economic and commercial office of Peru’s Ministry of Foreign Trade and Tourism. It contributes to the sustainable economic growth of Peru by identifying business opportunities, promoting exports and tourism,
internationalising companies and
attracting foreign investments.
Led by Alvaro Silva-Santisteban, the office helps to establish, foster and maintain strategic alliances with public and private institutions in the UAE, and strengthens the presence and participation of Peru at the
international level.
Alvaro Silva-Santisteban, Director of the Trade, Tourism & Investment Office Peru — UAE, said, “Total exports from Peru to the UAE have increased by 700 percent from 2011 to 2014, and from 2014 to March 2016 further growth of 43 percent was experienced. As a country, we have seen a significant increase in trade with the UAE over the last five years. This deepening of trade relations has opened a bigger window of opportunity for companies intending to be part of Peru’s economic growth, and has raised awareness of the ease of doing business in our country.”
Peru enjoys a consolidated
advantage in energy costs on a regional level because of its high utilisation of natural gas and hydric energy. This is why Peru’s utilities and infrastructure sectors continue to attract further investments. Major UAE investors already include DP World, International Petroleum Investment Company (IPIC) and Abu Dhabi Investment Authority (ADIA).
Earlier this year, Blue Bolt Limited, a wholly owned subsidiary of ADIA, acquired a 36 percent stake in Fenix Power Peru, a thermoelectric power generation company in Lima, as part of a consortium transaction valued at US$786 million.
“Peru’s geographical location and diversity of climates enable us to supply fresh products off season. Today, Peru is the world’s top producer of fishmeal, fish oil, fresh asparagus, paprika and organic bananas; and the world’s second largest producer of artichokes and organic cacao. We also rank among the top ten exporters of avocados, maca, mangoes and processed asparagus. Peru’s organic produce and superfoods are sectors experiencing particularly strong demand from the UAE,” added Silva-Santisteban.
“Peruvian cuisine has established a firm presence on the UAE culinary scene. This growing awareness of Peru’s cosmopolitan flavours and rich palette of ingredients is contributing to increased demand for our food products across the region,” he said.
Peru’s main economic activities with the UAE include mining, agriculture, manufacturing, chemicals, construction materials and home decor. The office of Peru is now working to develop other sectors like health, jewellery, fashion textiles and the export of services.
The investment and trade missions between Peru and the UAE play a critical role in showcasing the benefits and opportunities of both countries, connecting companies and presenting market prospects. Currently the Office of Peru supports, at a minimum, monthly investor and trade visits to Peru from UAE and vice-versa.
He further added, “Our aim is to become the top investment destination for the UAE in Latin America and its third-largest trading partner overall. We are confident our efforts are moving in the right direction, considering the synergies between our countries and the drive we have as a team to achieve our goals.”
The office is now focussed on consolidating Peru’s position as an indispensable trade and investment
partner of the UAE by deepening its relations across a broader range of strategic
sectors.
It has also expanded its
geographic remit to include South Africa.
The office also aims to use its dual market experience to strengthen direct trade and investments between Peru and South Africa.
“The expansion of our remit to include South Africa makes commercial sense. South Africa is among the leading emerging economies within the continent, and is an important port of entry for the southern part of Africa. We are actively developing close synergies and evaluating mutual prospects between our two countries. Just in April, we scheduled four commercial missions to take place during the next semester, some of which will be attended by up to 20 companies. This not only reinforces the existing interest, but also the will to further strengthen the commercial relations between the two countries,” Silva-Santisteban concluded.