Mexican Senate Ratifies Free Trade Accord with Peru

Mexico’s Senate ratified a free trade agreement with Peru on Thursday, after delaying about seven months since it was approved by executives in both countries on concerns about its impact on the agricultural sector.

The trade pact was approved with 55 votes in favor and 47 against.

Peru’s Foreign Trade and Tourism Ministry said in a statement that trade between Read more…

Business Group Backs Humala’s New Cabinet

Peru’s largest business organization, Confiep, believes President Ollanta Humala’s new cabinet reinforces investor and market confidence in the Andean country’s economic policies, state news agency Andina reported.

“The expectations are very high,” said Confiep President Humberto Speziani. “Technical, young people have moved (in to the cabinet). That is important, it is the change that the country needs, less political and more management, more efficient.”

Speziani said that Humala’s pick of former Interior Minister Oscar Valdes as the Read more…

Korean Air Looks to Make Peru its South American Hub

Korean Air expects to make Peru its hub for operations in South America, the company’s president, Yang Ho Cho, said on Friday.

Cho made the comments in Lima with Foreign Trade and Tourism minister Jose Luis Silva to celebrate Korean Air’s inaugural flight from Lima to Seoul, scheduled to leave Sunday carrying 115 tons of Peruvian asparagus.

“This is Korean Air’s first flight from Peru and it is also is carrying asparagus, one of Read more…

President Humala calls for “good sense” as Cajamarca rejects Conga gold project

President Ollanta Humala yesterday evening called for common sense and guaranteed water for the farmers of Cajamarca, while regional leaders in the northern highland department were deciding to continue the protest strike that aims to halt the development of the Conga gold mine.

In the past week, Cajamarca leaders have been in Lima and the ministers of Energy and Mines, Environment, and Agriculture have held meetings in Cajamarca but no agreement was reached.

“Dialogue is the only democratic way to solve social conflicts,” Humala said in Read more…

Hundreds of businesses meet at China-Latin America Summit

More than 400 Chinese business leaders and government officials,  and representatives of 600 Latin American businesses came together in Lima this week for the 5^th China-Latin America Business Summit, inaugurated Monday by President Humala. The Chinese delegation was headed by Hua Jianmin, vice-president of the Standing Committee of the National People’s Congress.

The summit included forums, seminars and one-to-one meetings with Chinese businesses in the mining, tourism, agriculture, banking and infrastructure industries.

China has become Latin America’s second trading partner —and Peru’s most Read more…

Lerner Ghitis: Govt Working on Resolving Social Conflicts

Prime Minister Salomon Lerner Ghitis said Thursday that the government is working on solutions to resolve social conflicts related to mining, agriculture and other sectors, state news agency Andina reported.

“We inherited a problem from the past decade, conflicts in mining, agriculture, regions,” Lerner Ghitis said. “But I think we are advancing little by little, first by respecting and listening to all the citizens and trying to resolve their demands.”

The most recent conflict to emerge is in northern Peru’s Cajamarca region, where Read more…

Coffee Exports Up 72 Percent in January to September

Peru’s coffee exports brought in a record $914 million in the first nine months of this year, 72 percent higher than the $530 million from the year-ago period, the National Coffee Board said Wednesday.

In the January to September period, the volume of Peru’s coffee exports rose 16 percent to 3.16 million quintals.

Cesar Rivas, the president of the National Coffee Board, said in a press release that Peru’s coffee exports are expected to total a record $1.3 billion this year thanks to higher prices and good Read more…

Peru to Open 18 Commercial Offices Abroad

Peru’s government authorized on Thursday the creation of 18 commercial offices abroad to promote trade, tourism and investment, the Ministry of Foreign Relations said.

In South America, the government will create offices in Bogota, La Paz, Sao Paulo, Santiago and Quito, state news agency Andina reported.

In Central America, an office is to open in Panama City, while in North America the government will open offices in Toronto, New York, Los Angeles, Miami and Read more…

Lerner Ghitis Says Peru to Maintain Clear Rules, Stable Laws for Investors

Salomon Lerner Ghitis, President Ollanta Humala’s cabinet chief, said Wednesday that Peru will maintain clear rules and a stable legal framework for investors, state news agency Andina reported.

“In our country, you’ll find clear rules and you won’t have a statist [government], but rather a government with clean hands,” Lerner Ghitis said during a meeting with U.S. investors at the Council of the Americas in Washington D.C.

Lerner Ghitis said that Peru is looking to attract investment to “strategic sectors,” adding that the government is looking to change the energy matrix from petroleum to gas and hydro-energy.

In agriculture, the country is looking to incorporate some 180,000 hectares of Read more…

Govt: Implementation Of Prior Consultation To Be Clear

The implementation of the Prior Consultation Law will be clear and guarantee the participation of all sectors, according to Peru’s new Deputy Intercultural Minister, Ivan Lanegra.

Lanegra said that the specific norms will be modified in each sector and in each level of the national, regional and local governments to facilitate the implementation of the law, state news agency Andina reported.

Lanegra, who succeeds Vicente Otta as deputy minister, is a lawyer who served in the Public Ombudsman’s office of Environment, Public Services and Indigenous Read more…

Next Page »