Andina

Peru, Japan improve trade exchange and business facilitation


20:45 | Lima, Oct. 10.

Peru and Japan have improved the trade performance and business facilitation, which saw an annual growth rate of 3% over the past three years, Deputy Foreign Trade Minister Edgar Vasquez said on Wednesday.

High-ranking officials from both countries held a third meeting of the Business Environment Improvement Subcommittee on Wednesday.

According to Vasquez, said dialogue mechanism seeks to encourage efficient use of the existing trade agreement between the two countries.

"Peru and Japan have had a fruitful dialogue within this subcommittee, in the presence of more than 15 public and private institutions," the government official underlined.

"We've addressed several issues of interest to our countries, such as maritime and air connectivity, sanitary and phytosanitary measures, migratory affairs, mining sector investments, among others," he added.

Between 2014 and 2017, bilateral trade increased at an annual average rate of 3%, led by Peruvian exports, which grew at an annual average rate of 6% during such period.

In 2017, Japan was Peru's fifth largest trade partner, thus accounting for 3.5% of the Inca country's trade with the outside world.

"We expect the subcommittee to help enhance even more the business and commercial ties with Japan so that trade continues to grow and Japanese investments to Peru are further encouraged," the deputy minister added.

(END) MDV/MDV/RMB

Published: 10/10/2018