Peru seeks to attract investment from United Arab Emirates (UAE) sovereign wealth funds for the development of infrastructure projects, as well as to increase trade and cooperation between the two countries, for which they will negotiate bilateral agreements.
During his official visit to the United Arab Emirates, Peru's main trading partner in Africa and the Middle East, Foreign Minister Elmer Schialer highlighted Peru's solid economic development in Latin America, highlighting the multiple investment opportunities it offers in various sectors.
During his meeting with the Abu Dhabi Sovereign Wealth Fund (ADIA) and the UAE Sovereign Wealth Fund (ADQ), the Minister of Foreign Affairs announced Peru's interest in beginning negotiations for a Reciprocal Investment Promotion and Protection Agreement (RPIPA) and a Double Taxation Avoidance Agreement (DTA).
These actions, he emphasized, reaffirm Peru's commitment to legal security for foreign investments.
Both investment funds expressed strong interest in continuing to expand their investments in the country, in strategic sectors such as infrastructure modernization, energy transformation, and sustainable development, which align with the UAE's investment priorities.
These funds were also interested in financing large infrastructure projects in Peru, highlighting the recent inauguration, in June 2024, of DP World's expansion project, the "Bicentennial Pier" in the port of Callao, for over $1 billion.
Meanwhile, during the meeting, which lasted more than an hour, Foreign Minister Elmer Schialer and his Emirati counterpart, Sheikh Abdullah bin Zayed Al Nahayan, reaffirmed both countries' commitment to strengthening bilateral relations.
They also pledged to accelerate trade, investment, cooperation, and the negotiation of instruments such as the Comprehensive Economic Partnership Agreement (CEPA), the Agreement on the Reciprocal Promotion and Protection of Investments (APPRI), and the bilateral Convention on the Avoidance of Double Taxation and Tax Avoidance (CDI).
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Published: 4/29/2025