Peru: Pacific Alliance Business Round to boost investments worth US$220 million

The Pacific Alliance’s 3rd Macro Business Roundtable will promote investments worth US$220 million and thus lead to a 10% growth, if compared to the previous edition held in Puerto Vallarta (Mexico), Peru’s Foreign Trade and Tourism Minister Magali Silva announced.

She highlighted that 83% of the participating enterprises, which exceed 800, are small and medium-sized enterprises (SMEs).

“The third edition’s success is having convinced the SMEs to participate, with which those have lost fear. 94% of [attending] entrepreneurs participate for the first time. Concerning Peruvian [entrepreneurs], they come from 13 regions,” the Minister told Andina news agency.

On the current edition, food products, garments, jewelry, manufacture and services are being negotiated, Silva pointed out.

“We estimate the macro business roundtable will be successful. It is expected to promote the direct contact among the over 400 exporting enterprises, which attend and the 200 buyers; in total, we believe, at least 4,170 business appointments could be concretized,” she indicated.

Asian Market

The Minister went on to add the 3rd Macro Business Roundtable is also attended by China. The Asian nation is interested in increasing its demand for regional products, since one of its important needs is to “project trade” worldwide by putting a special emphasis on the Asia-Pacific region.

She underlined the strategic relevance the said Pacific Alliance bloc is gaining, since it has turned into the sixth most dynamic economy in the world. Currently, it holds the seventh spot among top exporting countries. 

The four member nations (Chile, Colombia, Mexico and Peru) concentrate a 214 million population with an average per-capita GDP worth US$10,000. 

The Pacific Alliance is an economic, trade and financial integration initiative created on April 28, 2011 by Chile, Colombia, Mexico and Peru and aimed at overcoming socio-economic inequality and achieving greater social inclusion of their inhabitants.

One of its objectives is to move gradually toward the free circulation of goods, services, capital and persons. As a whole, it is considered to be the eighth largest economy and exporting entity worldwide.

In Latin America and the Caribbean, the bloc accounts for 37% of the GDP, concentrates 50% of total trade and attracts 45% of direct foreign investment flowing to the region.

The four countries total a population of 214 million people and its capital and financial markets as a whole equal the size of Brazil’s.