Andina

APEC Peru 2024: Peru to consolidate new agreements during Leaders' Week

Photo: ANDINA/Daniel Bracamonte

Photo: ANDINA/Daniel Bracamonte

08:03 | Lima, Oct. 30.

For Peru, the Asia-Pacific Economic Cooperation (APEC) Leaders' Week represents a platform that will enable the establishment of new trade agreements, leading to positive results for the national economy, APEC Peru 2024 Presidency Working Group Executive Coordinator Gino Arciniega indicated.

"We have the opportunity to close free trade agreements with Hong Kong and Indonesia, which will provide better conditions for access to markets and the reduction of tariff barriers," the diplomat told Andina News Agency on October 23.

He noted that the eventual signing of these trade instruments "provides new opportunities for national citizens and companies to expand our export markets, strengthen the Peruvian economy, and consolidate our projection towards the Asia-Pacific region."

The official highlighted the positive results of Peru's participation in APEC since its entry in 1998. 

"We hope that this trend will consolidate and continue over time," he expressed.

In this regard, Arciniega said Peruvian exports to the economies that make up the forum were valued at approximately US$44 billion by the end of 2023. Similarly, this indicator increased by 4% compared to 2022.

Moreover, the diplomat indicated that the growth rates in this field have averaged 11.3% between 1998 and 2022.

Leaders and schedule of meetings

Arciniega underscored the presence of more than a dozen top representatives of APEC economies during the Leaders' Week, which will take place in Lima from November 10 to 16.

On the last day, they will participate in the APEC Economic Leaders Retreat, after which these meetings will conclude, and Peru will hand over the forum's presidency to South Korea.


"They will make the most of their visit on the occasion of the forum meetings to pay state visits, in some cases official visits," Arciniega noted.

The diplomat said that a Senior Officials' Meeting will be held between November 10 and 12, followed by a Foreign Trade and Foreign Affairs Ministerial Meeting set to take place on November 14.

An informal dialogue involving APEC leaders and senior dignitaries who have been specially invited will also be held on November 15.

One of them is Brazilian President Luiz Inacio Lula da Silva, Arciniega explained.

Peru is hosting APEC for the third time after the 2008 and 2016 editions.


(END) FGM/CVC/MVB

Published: 10/30/2024