The trade balance with the
United Kingdom is favorable to Peru. Even though this is not the principal destination for Peruvian exports, 57.74% of the US$703 million shipped to said country in 2018 constituted
non-traditional products, mainly from the agro-export sector.
Avocados, grapes,
blueberries, coffee, tangerines, and other citrus fruits grown in Peru's fertile coastal, Andean and Amazonian valleys reach London and other cities in the British Isles, becoming more and more popular.
Peruvian agro-exports to this important market increase year after year: in 2014, sales totaled US$255 million; in 2017, they amounted to US$334 million; and in 2018, shipments grew 17.13% to US$326 million, according to the Association of Peruvian Exporters (Adex).
Background information
"In fact, we have no problem because we reached a transition agreement. When the United Kingdom leaves the European Union, everything will remain the same because we already have an agreement with Peru and other Andean nations. Therefore, there will be no gap," she told the official gazette El Peruano.
"Now, with
Brexit and especially with our new Prime Minister, we will focus on the possibilities to increase our investment in countries like Peru; for that reason, firms make a more profound evaluation of the available opportunities," Harrisson stated.
The United Kingdom is one of Peru's major investors. At the end of 2018, its capitals totaled US$4.364 billion, behind Spain (UU$4.567 billion), according to statistics issued by the State-run Private Investment Promotion Agency (ProInversion).
The British envoy acknowledged that Peru is a key emerging market in the world, with one of the best growth rates in Latin America —5.5% on average in the last decade and a projection of 3.7% for this year.
"I hope you agree with the fact that a strategic partnership with the United Kingdom is worthwhile. You have to decide that. For our part, we are ready," she noted.
The ambassador took part in the conference "Strategic Partnerships between the United Kingdom and Latin America for the Development of Infrastructure," organized by the British Embassy and the Lima Chamber of Commerce (CCL).
(END) DOP/CAN/RMB/MVB
Published: 7/30/2019