Peru to reverse COVID-19's impact on export sector in 2021

09:00 | Lima, Nov. 27.

Foreign Trade and Tourism Minister Claudia Cornejo estimated that Peru will be able to reverse the COVID-19 pandemic's impact on the export sector in 2021.

In 2019, Peru's exports totaled US$46 billion, out of which non-traditional sales amounted to US$13 billion —mainly underpinned by agro-industry.

"The value of exports is projected to fall to US$38 billion by the end of this year, as a consequence of the pandemic's negative effect, a situation that is expected to be reversed by late 2021," she affirmed.

On the other hand, the Cabinet member said that her sector's Initial Opening Budget (PIA) for 2021 amounts to S/488.28 million (about US$135.2 million) —down 13.8% compared to 2020.

"This, as consequence of the budgetary constraints typical of the context we are in," the minister underlined.

Promoting exports

Minister Cornejo pointed out that her portfolio will implement a strategy for the promotion of exports through actions on the digital platforms, as well as the facilitation of foreign trade with the Foreign Trade Single Window (VUCE) and its modernization.

Likewise, the strategy includes the Internationalization Support Program (PAI) —which is an instrument of the Mipyme Fund— whose objective is the co-financing of activities aimed at strengthening, promoting, and fostering the internationalization process of Peruvian micro, small, and medium-sized enterprises (mipymes).


Published: 11/27/2020
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