Peru-Korea FTA to take effect in April 2011

 

cesar@worldtradecenterperu.com

The bilateral free trade deal between South Korea and Peru would come into force in April 2011 following the completion of the legal review of the agreement text.

"We have completed the legal review of the text and we have our version in Spanish. Now we will just wait for the Koreans to finish the translation and then set a date for the signing of the agreement," Peruvian Deputy Trade Minister Carlos Posada told Andina.

Posada said the signing will probably take place in Peru before March.

"The FTA with Korea would take effect in April, for that to happen, both parties must complete the internal procedures and in the case of Peru, this process should not take more than two months," he said.

The signing ceremony to mark the end of trade negotiations was held in November 2010 in Seoul in the presence of Peruvian President Alan Garcia.

Annual trade between Peru and South Korea currently stands at $1.4 billion, including nearly $749 million in exports to the Asian country.

Peru’s government said it expects bilateral trade to expand five-fold by 2016 as trade between South Korea and Chile did following the signing of a free trade agreement by those two countries in 2002. (Andina)

check these items order them throught amazon

Peru's exports totaled U.S. $ 35.042 million in 2010, 31.1 percent more compared to the same period last year,

 

cesar@worldtradecenterperu.com

 

before a recovery in international prices of major exports of the country, reported the National Superintendency of Tax Administration (Sunat .)

In 2010, all economic sectors (traditional and nontraditional) reflected a positive performance.
In addition, Peruvian exports are clearly concentrated in primary products because they had a stake of 77 percent of total exports, while nontraditional accounted for 22 percent of the total and the remaining one percent was explained by the category "other.
With the result obtained in 2010 recovers the positive trend was recorded until 2008, the year the exports amounted to 31.008 million dollars and then, due to the financial crisis, fell to 26.738 million in 2009.
In that sense, last year traditional exports amounted to U.S. $ 27.157 million, a level higher by 33.1 percent over the previous year.
He stressed the expansion of foreign sales of Petroleum and Natural Gas (60.8 percent), Agriculture (53.1 percent), Mining (31.2 percent) and Fish (11.9 percent).
The Sunat recalled the heavy dependence of the minerals in the structure of Peruvian exports in 2010, as the mining sector said 78 percent of traditional exports and 61 percent of total exports.
According to exported products, copper (8.870 billion) and gold (7.735 million) ranks as the top two, and the export value of each of these products exceeded the annual value of all non-traditional exports in that year .
During 2010 the non-traditional exports amounted to 7.641 million U.S. dollars, representing a growth of 23.6 percent over the previous year.
This amount also set a record by exceeding the amount exported in 2008 and reached 7.565 million dollars.
By economic sector, exports of Non-Metallic Mining (69.6 percent) are the largest growth, followed by Iron and Steel Metallurgy (67.5 percent), chemical (46.2 percent), Fishing (23.2 percent), Agriculture (19.8 percent ) Metal Mechanic (11.2 percent), Other (nine percent) and textiles (4.2 percent).
In 2010 non-traditional products exported 4.423, much higher at 149 compared with those recorded in the previous year.
Fresh or chilled asparagus (291 million), refined copper wire (275 million), fresh grapes (179 million), other fish and squid (158 million) and "t-shirt" of cotton for men or women (158 million), topping the list of major non-traditional products in 2010.
Finally, the United States remained the main destination for Peruvian exports with a share of 16 percent of the total, China accounted for 15 percent, Switzerland (11 percent), Canada (nine percent) and Japan (five percent .)
Exports to U.S. amounted to 5.710 billion in 2010, 25.7 percent compared with the previous year.
The main products exported to this market are gold, refined copper, other gasoline without tetraethyl lead, crude oil and other raw coffee.
For his part, Peruvian exports to China amounted to U.S. $ 5.408 million in 2010, 32.6 percent over 2009.
There is a high concentration of exports in primary products, highlighting items of copper, fishmeal, lead ore, refined copper and zinc ore, among others.
Finally, exports to Switzerland amounted to U.S. $ 3.844 million, 2.8 percent down on 2009, due to lower gold sales, the mainstay of exports to that country.

Listen

Read phonetically

 

cesar@worldtradecenterperu.com

in 2011 About 1.500 Peruvian companies will be trading with China Starting this year

About 1,500 Peruvian companies engaged in foreign trade between exports and imports, with their counterparts from China which tends to increase due to the growth potential of the Asian country said today BBVA Banco Continental.

"There are about 1,500 Peruvian companies that export or import more than $ 10,000 a year to China, representing about 9.000 million annually," said the manager of Foreign Trade of BBVA Banco Continental, José Miguel Vásquez.
He said that these companies need to conduct business in RMB (China currency), given that the Chinese government issued in July 2010 a series of measures to encourage the use of the yuan in international trade transactions.
He said that China is already involved in international trade transactions in yuan mainly with Asian countries, and has already signed specific agreements to do so with other countries like Russia.
He said this led to BBVA Banco Continental to launch its service called Comex China, in order to allow Peruvian businessmen doing business in foreign trade with China and conduct transactions in yuan.
"The Peruvian customers can access accounts in RMB, and a range of associated services such as: media documentary trade payments, transfers, letters of guarantee of anticipated shipments, spot market transactions and foreign exchange forwards, detailed.
He said that this service will be initially distributed among the clients of BBVA Banco Continental, but also available for companies that have nothing to do with the bank.
"We've been canvassing for our customers, we have done surveys and there are several who are interested and the first thing that we have is our platform list," he said.
He noted that exporting firms are showing greater willingness to begin operations in yuan bill.
In this regard, the Innovation and Development Manager of BBVA Banco Continental, Ignacio Quintanilla, said that Peru is the first Latin American country in which their employers can open RMB current accounts to do business with China.

cesar@worldtradecenterperu.com

CLICLK ON LINK VIDEO AND SEE OUR WTC-PERU VIDEO PRODUCT LIST

FOR QUESTIONS OR QUERIES ON OUR PRODUCT LIST AND INMEDIATE RESPONSE EMAIL ME TO:

cesar@worldtradecenterperu.com

SKYPE:  czrmoran

FOLOW US ON THIS BLOG

http://exports-imports-peru.blogspot.com/

OR CALL ME AT 703-337-6345 U.S. / 511-224-5898 LIMA-PERU

Pisco exports grew 35.3% last year 2010

Pisco exports grew 35.3% from January to September 

Pisco exports grew 35.3% from January to September 2010, totaling 1.4 million dollars, and increased 40.8% in volume to 209,100 liters, according to the consulting firm Maximixe.

This increase in exports of Peru’s flagship beverage is due to greater demand from France, with 687.9% growth in the volume exported for the period, as well as increased demand from Ecuador (523.6%), Spain (187.9%), Brazil (138.9%), Argentina (111.9%) and the United States (81.1%).

IF INTERESTED TO IMPORT PERU`S PREMIUM PISCO TO GET IN DIRECT CONTACT WITH OUR PISCO SUPPLIER OR QUESTIONS PLEASE EMAIL ME TO:

cesar@worldtradecenterperu.com

Peru, an exciting story of transformation based on its consistent growth

Americas Society: Peru, an exciting story of transformation

Peru is a very exciting story of transformation based on its consistent growth and low inflation rate, one of the lowest in Latin America, said Susan Segal, President and CEO of Americas Society and Council of the Americas.

“Peru will grow more than 8% this year. It was one of the few countries in the entire world that grew last year during the economic crisis”, she said to Andina.

The entrepreneurial environment in Peru has improved significantly as it is shown in the fact that the country leads the list of best countries to do business in Latin America.

Peru jumped to 36th place from 46th in the Doing Business 2011 ranking made by the World Bank and unveiled Wednesday, becoming one of the most attractive economies to do business and make investments.

“As you go through the country and Lima, you can see the difference. Peru is offering its citizens a great opportunity to live in an economy with growth and entrepreneurial spirit”, she said.

As Peru continues to grow, the government and the private sector are focusing on ways to improve education, access to health and technology, and entrepreneurship to make more people reap the benefits of the country’s growth.

She said Peru’s standards of education have dramatically changed in terms of criteria.

“Peru has reduced the level of poverty, it ahs lifted people out of literacy, there are more children that can read and write”, she stated.

 

cesar@worldtradecenterperu.com

PERU`S LAND HAS TRIPLED DUE TO THE EXPORT BOOM OF THE LAST FEW YEARS

The land located in the valley of Jequetepeque - Zana, located between the regions of La Libertad and Lambayeque, have increased in value by up to 300% in the last 15 years due to agro-export boom in the country since then, said the consultant Inform @ ction.
"For years, agriculture in Peru is undergoing a process of revival and consolidation, and this phenomenon generates the land prices of the main valleys to rise more and more", said the president of Inform @ ction, Fernando Cillóniz.
Argued that agricultural export growth is mainly due to the aggressive policy of trade liberalization that has been promoting the state through the negotiation and signing of FTAs with various countries. Thus, more companies are investing in growing and harvesting of various products that are in high demand by major trading partners have Peru as well as create thousands of jobs.
He noted that land can now be found in Ica up to U.S. $ 15.000 or $ 20,000 per hectare, provided that they are the best land for growing grapes, paprika and onions, products of the region.
For its part, the land in Jequetepeque - Zana have also increased their value through a number of advantages compared to other coastal valleys.
"With its Gallito Ciego reservoir and through infrastructure improvements made, is one of the valleys most secure of water reserves," he said.
Prior to 2005 the value per hectare was between $ 1,500 and $ 2,800, but then increased to U.S. $ 4.000, and now the price is around U.S. $ 8.900 per hectare.

 

JEQUETEPEQUE VALLEY ( LAMBAYEQUE )

cesar@worldtradecenterperu.com

PERU ON THE WAY TO $50 BILLIONS IN EXPORTING GOODS

For many years, dreamed of reaching U.S. $ 10 billion in exports until that happened in November 2004. Since then it seems that the exporters had taken more Viada to reach-even if slightly decreased by the international crisis, the figure of $ 30 billion.
For the director of exports Prom-Peru, Juan Carlos Mathews, the rate of growth in the coming years will be 10%, thanks to the new offer is still missing and exploited by the markets that are being opened by the hand of the agreements commercial.
The next target seems logical. When does the $ 50 billion? It seems so far to Mathews. According to the 10% rate of growth could be 5, 6 or 7 years. Time and global crises have the last word.
The truth is that a decade ago, when newly germinated the "boom and exporter and became the first shipments of textiles-clothing, we were at U.S. $ 6,000 million in exports. Today the figure seems small, it has increased almost 300% the amount exported.
Patterns While we are the first in the world in export of fish meal and oil, lead and silver, Peru also achieved on the path to be the leader in fresh and chilled asparagus, bananas, organic or organic coffee, which are considered nontraditional.
In this regard, Alejandra Alayza, executive coordinator of Network General, says that the total figures are good news for the country, but asked not to lose sight of the export pattern still holds that Peru: sell the world minerals and fish meal. This does not generate added value and means fewer jobs, mentioned.
Of the total amount exported last year 23% were non-traditional products and 77% traditional. The gap is still very far between the two groups. Mathews hopes that between this and next year will reach a ratio of 25% and 75%, "which is a lot in relation to millions of dollars." In a few years will be 30% and 70%, he added.
Eduardo Gonzalez, a partner at Muñiz, Ramírez, Pérez-Taiman & Olaya Association, notes that traditional products grew mainly by higher prices of minerals, while the diversity of products and increased volumes pushed up shipments of goods value.
He stressed that it comes to countries where the population has a higher income per capita than Peru. "These are countries whose people have sophisticated consumption habits and many Peruvian agro-industrial products have proven to live up to its demands. There is an effervescence export in Peru, "he said.
Meanwhile, Andrew Remezzano, manager of Peru Deloitte Corporate Finance, said that putting into effect trade agreements with the European Union, Japan and Korea, increased demand will be focused on non-traditional goods.
Concatenation In parallel, the number of companies that export doubled compared with 1999, when he totaled 3,589. Juan Carlos Mathews acknowledges that this figure could still grow much more when compared with the total amount exported. He noted that each year 35% of these companies do not export and that's a problem of sustainability has been working on Prom-Peru.
Alejandra Alayza adds that the state will need to better articulate the strings that are formed with each production sector. An emblematic case is the dangerous lowering of Peruvian cotton crops that have almost been left out of the textile-clothing chain, a major export sectors.
Although there is now a little over 7 thousand companies that export, Mathews says that in practice involves some three thousand more that are outsourced or provide supplies.
Also, another point worth mentioning is the increase in new export markets and the weight that the countries of Asia today.
Remezzano notes that last year the top three destinations of our exports were U.S., China and Switzerland, followed by European Union countries. And what stands out is the entry of China as the main target, since their participation 10 years ago was not significant.
Another angle that indicates the president of Peru, Cameras, Guillermo Vega Alvear, is that the regions have increased their share of shipments to the world. Currently, 70% comes from the regions, so much so that only represents Ancash Arequipa 10.9% and 10.49% of the total, he said.
Gonzalez believes that all these accomplishments were achieved through government measures such as setting drawback since 1995 and the recent General Customs Law. Remezzano adds that the latter is the creation of the single that facilitates administrative procedures.
Not the commodity To achieve our current exports increase, Mathews, Prom-Peru, says the challenge for exporters of nontraditional products will achieve product differentiation.
For example, garment exporters began their activities with the production of garments for others, but now we see the launch of brands that are driven by them abroad. In short, the idea is to move away from a cheap product on the market that approaches the status of a commodity.
Another aspect that small exporters are required to achieve the professionalism of their activities, he added.
Remezzano says small businesses they are complex procedures to get their products abroad and this work should be accompanied by the State.

cesar@worldtradecenterperu.com

Peru has a potential of over 100 organic products for export,

Peru has a potential of over 100 organic products for export, grown in small areas, mainly in the mountains and forests of the country, the minister of Agriculture, Adolfo Córdova.
He said that according to the National Service of Agrarian Health (SENASA), there are 257.437 hectares in Peru more than 20 organic crops, including bananas are organic Piura, which is an associative innovation for small producers scale. "Peru is the seventh country in the world with the largest number of farmers to implement organic production systems, allowing to generate over 46,000 jobs, benefiting 225 000 families in 22 departments," he said. This scenario has led to a significant increase in exports is estimated that at the end of 2009 exceeded $ 250 million, taking more than 25 countries as a destination, he said. In this regard, the Environment Minister Antonio Brack, noted that world demand for organic products grows yearly rate between 15% and 18%, creating a positive environment for farmers engaged in this field. "The global trend focuses on the consumption of organic and natural products, and Peru there has much to offer. An example is the competitive entry that has achieved the camu camu to the Japanese market, "he said. Both ministers attended the opening of the XIII National Meeting of Organic Producers, organized by the National Association of Ecological Producers of Peru, which has the support of the Ministry of Agriculture. The data Milk, corn and organic bananas are the only potentially sensitive products in the FTA being negotiated with the European Union

cesar@worldtradecenterperu.com

Peru could double its exports and bring in excess of U.S. $ 60.000 million over the next five years

Peru could double its exports and bring in excess of U.S. $ 60.000 million over the next five years with a further deepening of its markets, said Minister of Foreign Trade and Tourism, Eduardo Ferreyros.
"In the next five years Peru has to export the exported twice as much now, and that it be put into effect a series of free trade agreements (FTAs) with partners worldwide," he told Andina news agency. He pointed out that this growth will affect not only the FTAs that the country has with the United States and China, but also with major economies like Japan, the European Union and the countries of the European Free Trade Association (EFTA). Also indicated that greater trade integration will affect the country will have with Mexico, Chile and Colombia, with which it has commenced discussions with a view to the creation of an Area of Deep Integration. "It's very important what is in terms of access to markets and accelerating the pace we are also promoting the closure of negotiations for an FTA with Mexico. We want to make a rather broad scheme of preferential access to major markets, "he said. On Thursday of last week was held in Santiago de Chile the ministerial meeting of four countries in order to start talks for forming an area of deep integration, according to the presidential mandate issued on December 4, 2010 in the XX Latin American Summit. The meeting was attended by Minister of Commerce, Industry and Tourism of Colombia, Sergio Diaz-Granados, Secretary of Economy of Mexico, Bruno Ferrari, Foreign Minister of Chile, Alfredo Moreno, and Ferreyros. The meeting highlighted the results achieved to date in terms of integration and noted that the deepening and expansion will create new opportunities that will move towards an economic and social development, said the minister. He argued that greater integration of Peru, Colombia, Chile and Mexico will not only allow an increase in exports and imports, but there will be more investment from those countries.