Peru has tremendous potential to expand its service exportable supply and enhance its position in the Latin American region and in global markets.
Remarks were made by Economic Commission for Latin America and the Caribbean's (ECLAC) Economic Affairs Officer Nanno Mulder.
"Peru has gained a small spot in the services market […] Yet, many other options can be harnessed," he was quoted as saying by Andina news agency.
In his speech at Peru Service Summit 2017, Mulder noted that South America accounts for 73% of modern services export in the region. Nonetheless, they are mostly grouped in one category: business services.
One of the opportunities for the Andean country to continue growing is to embed more services in its manufacturing exports, Mulder added.
On the other hand, the ECLAC Economic Affairs Officer explained a country's export dynamism depends on active policies, and this requires public-private strategies with clear goals.
"Human capital is the major factor. If you want high-quality exports, you have to adapt academic offering to sectors' demand, specialized courses, and certifications. Plus, you need to foster bilingualism," he said.
Finally, Mulder pointed out that, in order to play in the major services export leagues, the focus should be on the service quality rather than the labor cost, since the international trend is to seek specialized services.