Ernst & Young Peru General Manager Paulo Pantigoso announced a Chinese firm is assessing the realization of a US$700 million agricultural development project within the next few years.
“The initiative is intended to cover 40,000 hectares of land and would be located in the Arequipa region,” Pantigoso stated.
He went on to add that agro-business is seen as an excellent alternative for the development of bilateral trade ties.
“Let’s take advantage of Peru’s geological soil layers, which permit the creation of more products,” he said.
In 2000, Peru used to export agro-industrial products worth US$300 million, but in 2015 shipments exceeded US$6 billion.
In order to attract further investments from China, Pantigoso continued, it is strongly advisable to take part in thematic fairs to find the best suppliers for the market.
“Peru’s Private Investment Promotion Agency (ProInversion) is doing a praiseworthy job in this sense,” he said.
On the other hand, Peru-China Chamber of Commerce (Capechi) President Jose Tam noted that over 300 Peruvian firms actively export to China. “The number has increased over the time.”
Most of these companies are in agriculture-related sectors. “Red Globe stands out in this sense. Health-related issues prevent agricultural products from being shipped to China.”