Peru, Bolivia presidential meeting to spur bilateral investment and trade

The meeting between Peruvian President Ollanta Humala and his Bolivian counterpart Evo Morales will provide more investment and trade opportunities for the two countries, Peruvian Ambassador to La Paz Luis Chimoy pointed out.


Peruvian investment in Bolivia has seen a significant increase. For instance, he mentioned Grupo Gloria’s US$300 million recent purchase of shares in Soboce –a Bolivian cement producer.


“This meeting between presidents and ministerial cabinets is important in order to increase flow of investment and trade; there is much room for common development, which no doubt will be addressed at the meeting,” Ambassador Chimoy told Andina news agency.


It should be noted that the First Binational Cabinet meeting between Peru and Bolivia will take place June 23 on the edges of Lake Titicaca, on the sidelines of the aforementioned meeting.


Bilateral trade totaled US$1.1 billion in 2014 with the balance of trade in favor of Peru. In addition, there is a positive potential agenda intended to complement both economies, not only in trade but also tourism.


“Peru and Bolivia are two of the nations in the region with best growth prospects for the following years, and this makes them partner to increase their economic and trade complementarities,” he added.