How has Peru benefited from its participation at APEC?

Photo: ANDINA/Daniel Bracamonte

Photo: ANDINA/Daniel Bracamonte

08:09 | Lima, Jun. 8.

The Presidency of the Asia-Pacific Economic Cooperation (APEC) forum was handed over to Peru for the third time, and the acceptance of this assignment took place in San Francisco, United States, in November 2023.

The active participation in this forum since 1998 has meant for Peru the improvement in various significant indicators, in addition to having allowed the South American country to assume its presidency in 2008 and 2016.

In those periods, investments worth approximately US$9.4 billion were generated.

For the 2024 meeting, the arrival in Peru of highest-level leaders, ministers, officials, and executives of companies based in the Asia-Pacific region is expected. 

Therefore, the Peruvian Ministry of Foreign Affairs estimates that the aforementioned summit will have a considerable positive economic impact, in addition to better positioning the country's international image worldwide.

Thus, Peru, by welcoming the leaders of several of the most developed economies worldwide, will be able to reposition itself as a reliable venue for events of this nature.

Concrete benefits

Regarding the concrete results for Peru, the Foreign Affairs Ministry reported that —according to statistics from Comex Peru— trade with the economies that make up APEC increased by 12% per year since our incorporation into this forum in 1998.

Besides, of the total trade of this type with other economies, 66% occurred with those of the aforementioned forum in 2022.

Within this framework, there are 5,200 Peruvian companies that have exported goods to APEC economies, which —according to data updated to 2021— totaled US$37.994 billion.

On the other hand, imports amounted to US$30.479 billion in 2021.

The objective pursued by this forum is to boost sustainable economic growth in the Asia-Pacific region.

The issues considered to move towards to this end are economic and technical cooperation, security, trade, investments, digital economy development, economic inclusion, and support for initiatives whose purpose is to improve public policies.


Publicado: 8/6/2024