UAE invests over $2b in Peru’s key business sectors

Inayat-ur-Rahman

DUBAI: The UAE has over $2 billion of investments in Peru’s infrastructure, logistics and energy sectors as the relationship between both countries continues to go from strength to strength.

Exports from Peru to the UAE continue to grow, with export figures from January to July this year topping $429 million, breaking all earlier records within the same period. The UAE has become a market for Peruvian companies and trade.

This was stated by Alvaro Silva Santisteban, Director of the Trade, Tourism & Investment Office Peru in the UAE, during an exclusive interview with Gulf Today, adding that he sees the exports from Peru to the UAE will cross $800 million mark by end of this year.

 “The official account of the International Bureau of Exhibitions through the social networking site “Twitter” announced the design of the Peruvian Pavilion at Expo 2020, which will shed light on the wealth and experience of this country in various fields.”

“Expo 2020 Dubai, which will be held from 20 October 2020 to 10 April 2021, will be the largest in terms of international participation and thus represents a unique opportunity to promote Peru and its exports as well as expand investments Foreign, increase tourist flow rates.”

“The UAE will be a major trading partner of Peru in the Middle East in light of the significant increase in the volume of exports, and the exhibition will in turn enhance this partnership with the UAE and neighboring countries. This is investments in the hospitality and tourism sector,” he added.

“The exhibition’s promotional activities will increase Peruvian products’ access to new markets, especially in Asia and the Middle East, where its population accounts for about 60% of the world’s total. Expo 2020 Dubai will attract around 25 million visits over the course of the year. “

 Peru, one of the most beautiful Latin American nations, exhibits a diverse range of inimitable home décor products with great vision and aesthetic qualities at INDEX Dubai.

The Peruvian pavilion showcases a balance between innovation and tradition with unique and high-quality decorative items designed to meet the trends and demands of the market. Sustained by Peru’s biodiversity, the variety of shapes and colors of its geography, the rich Incan heritage, and the multiple expressions of its culture; Peru home deco items respond to market trends and mixes the ancestral techniques and handmade production with exclusive designs and limited edition.

“In recent years, our traditional export markets have been concentrated within the Americas and Europe. However, after major efforts our trade has evolved and diversified both in products and services as well as in markets. Where a communicational process, both home and locally towards understanding the depth of the markets, was of essences. At first, it was a challenge to get involvement, but once the potential and an array of possibilities were interiorized companies were eager to enter”, he added.

On a similar note, Orlando Vásquez, Chairman of the Crafts Committee of the Peruvian Association of Exporters, said, “The UAE is the right market to focus the efforts of Peruvian companies. This is considering Dubai as the business hub of the Middle East, a strategic meeting point and one of the world’s most globalized cities. Today, the UAE has become the first market of Peruvian marquetry exports, specifically hand painted glass boxes and mirrors.”  INDEX 2019 is the 4th participation of Peru in the show. The companies exhibiting at the pavilion are Berrocal, Inka traditions, Sumaq Qara and WoodFlair.

The Trade, Tourism and Investment Office of Peru in the UAE, PROMPERU, contributes to the sustainable economic growth of Peru by identifying business opportunities, promoting exports and tourism, internationalizing companies and attracting foreign investments. The Office helps to establish, foster and maintain strategic alliances with public and private institutions in the UAE, and strengthens the presence and participation of Peru at international level.