Peru Exports Rise 21 Percent In January

Peruvian exports increased 21 percent in January to $3.59 billion, compared to the same month in 2011, according to preliminary data from trade group ComexPeru.

Comex said that the increase was largely due to a 23 percent rise in exports from primary products, which totaled $2.78 billion in the month.

Fishing exports rose 252 percent to $279.8 million in January from $79.4 million, Read more…

Peru’s GDP Increases 6.92 Percent In 2011

Peru’s economy grew by 6.92 percent in 2011, compared to 8.8 percent in the previous year, the national institute of statistics and information said.

Peru’s gross domestic product has grown for 28 consecutive months and it has expanded for the past 13 years, state news agency Andina reported.

In December, Peru’s GDP expanded by 5.96 percent, which was higher than many Read more…

Ten Peruvians Killed In Canadian Car Crash, Three Injured

Ten Peruvian farm workers were killed and three more injured late Monday in Canada when a van they were traveling in was involved in a violent accident with a flatbed truck outside Stratford, in southwestern Ontario. 

Peru’s Foreign Affairs Ministry said the injured had been identified as as Javier Abelardo Aldo Medina, Juan Jose Ariza, and Edgar Sulla Puma. The ministry said in a statement that the three are being treated at separate hospitals in Ontario. Read more…

China Finishes 2011 As Peru’s Main Exports Market

China closed 2011 as Peru’s top destination for exports, a year that saw a record in the value of the Andean nation’s shipments abroad, the government said Tuesday.

In 2011, Peruvian exports totalled $45.7 billion, up 28 percent from 2010, Foreign Trade and Tourism Minister Jose Luis Silva said, according to state news agency Andina.

Traditional exports increased 27 percent to $35.6 billion, while non-traditional Read more…

Scotiabank: Private Sector Investments To Rise 8% In 2012

Private sector investments in Peru are expected to grow eight percent in 2012 amid uncertainty in the global economy, Scotiabank Peru said, according to state news agency Andina.

Scotiabank said that companies are planning “relatively aggressive” investment plans in 2012 and 2013 in a number of sectors, including retail, banks, construction and real estate, as well as mining and hydrocarbons.

Scotiabank said that while social conflicts could affect some mining investment plans, it does not seem to be affecting the sector in general. The latest project to be Read more…

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…

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