Canadian entrepreneurs praise Peru’s economic stability
Canadian entrepreneurs praise Peru’s economic stability
Canada’s former Member of Parliament and Canada Trade Link Chair Bryon Wilfert affirmed that Peru has strong economic stability within the region.
“The legal framework in Canada and Peru is characterized for being modern and necessary for a favorable investment environment,” he expressed during the 14th International Summit on Foreign Trade: Trends in 20-21 International Trade organized by the Foreign Trade Research and Development Institute (Idexcam) of the Lima Chamber of Commerce (CCL).
In that sense, Wilfert said that a delegation of businesspeople from his nation will visit the South American country soon to learn about the Peruvian market’s supply.
According to the honorable guest, Canada Trade Link wants to connect with CCL and do business in Peru. Thus, the visit of a Canadian mission is intended to promote investments in sectors such as construction, health, and education.
During his presentation, he announced that companies based in his country are interested in participating in tenders under the Public-Private Partnership (PPP) modality, as they see the Peruvian Government’s projects portfolio optimistically, which is projected at US$9.2 billion for the 2020-2022 period.
Thus, Canada Trade Link is interested in various sectors through the implementation of mass transport systems, hydroelectric power, water treatment plants, ports, and airports, among others.
In the same way, Wilfert noted there is great interest in the agri-food industry, since he considered that Peruvian foodstuff is highly beneficial, both for human consumption and livestock.
Concerning education, he noted that some Peruvian schools are projected to replicate Canada’s educational model so that students are able to directly enroll in universities located in the North American country.
For her part, CCL Chairwoman Yolanda Torriani stressed that Canada is an important trading partner, and it is very appropriate for the private and public sectors to know which vision this country has towards Latin America, and especially Peru.
Bilateral business
Similarly, Bryon Wilfert said that Canada is Peru’s third-largest trading partner in Latin America when it comes to bilateral treaties and direct private investment.
It should be noted the Canadian market is extremely important for Peruvian exports. Between January and August 2019, shipments totaled US$1.531 billion, expanding 166.6% over the same period last year.
Meanwhile, imports amounted to US$490 million between January and September 2019, according to information from the CCL Foreign Trade Center (CCEX).
In 2018, Canada’s Foreign Direct Investment (FDI) in Peru reached $14.2 billion, mainly in mining, oil-gas, and financial services.
About Canada Trade Link
It enables Canadian businesses to connect and do business with high-growth emerging markets worldwide via privately organized business-to-business, trade, and investment missions.