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Peru hosts APEC 2024, building leadership in the Asia-Pacific region

News provided by news direct2024-07-10

--News Direct--

For the third time in its history, Peru will host the Asia-Pacific Economic Cooperation (APEC) Forum, with the main event happening next November. This opportunity positions the country as a favorable business and trade environment and a key ally in sustainable global economic growth.

The Commission for the Promotion of Peru for Export and Tourism (PROMPERÚ) highlights that the country offers a secure and stable investment environment with favorable policies and sustained growth. With a broad network of 22 agreements with 58 trading partners, the economies Peru trades with under preferential conditions represent 82% of the world’s GDP. Additionally, its geographic location on the west coast of South America provides strategic access to markets in Asia, North America, and Europe.

Infrastructure and diversification in Peru

The new Chancay Multipurpose Port will be crucial in transforming Peru into a regional trade hub, facilitating exchanges with Pacific coast countries, and strengthening connectivity with major Asian economies. Along with the new international airport in the capital, the largest and most modern in South America, Peru will be positioned as a key global commercial center.

Peru has a diversified economy with foreign investment opportunities in renewable energy, agribusiness, manufacturing, textiles, tourism, and high technology. The country is also experiencing a boom in innovation and entrepreneurship, with startups and tech companies leading various sectors.

Thanks to its cultural diversity and top-notch tourist infrastructure, Peru is fully equipped to host large-scale events. Cities like Lima, Cusco, Arequipa, Trujillo, and Pucallpa are prepared to host more than 160 meetings as part of APEC 2024. Peru offers a range of unique tourist experiences, known for its historical and natural attractions and renowned cuisine. The country is a safe destination ready to welcome tourists from the 21 APEC economies.

Asia-Pacific: a prioritized region

In 2023, APEC accounted for 67% of Peru’s foreign trade, with exports valued at USD 44,089 million, of which non-mineral energy exports exceeded USD 11,030 million. Additionally, tourists from this region represented more than 50% of arrivals to Peru in 2023, with over 1.2 million visitors, mainly from Chile and the United States.

APEC 2024 will be a milestone for Peru in international relations, consolidating its leadership in the Asia-Pacific region as a key trading partner. The country is committed to sustainable and responsible practices, promoting investments that respect the environment and benefit local communities. The achievements made during this edition will be relevant for the continuation of these projects, further strengthening Peru’s position on the global stage.

Peru Export and Tourism Promotion Board (PROMPERÚ). We are the government agency in charge of the development and implementation of global strategies to position Peru via the promotion of its image, touristic destinations, added value exports and inversions.