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…

Peruvian Malls Look At 12 Percent Increase In Sales In 2012

Sales at Peruvian malls are expected to rise about 12 percent this year to $4.7 billion from $4.2 billion in 2011, according to the head of the Peruvian association of malls (ACCEP), Gonzalo Anzola.

“The projection for growth for malls is really soaring and we calculate that in two or threeyears we should pass from 45 to 80 or 100 malls in Lima and the provinces,” daily Peru.21 reported Anzola saying.

In 2000, there were seven malls in Peru, with six of them located in the capital, 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…

Korean Air to Begin Flights to Peru

Foreign Trade and Tourism Minister Jose Luis Silva said Thursday that Korean Air will begin operations to Peru next week, state news agency Andina reported.

Speaking at the CADE 2011 business conference in Cuzco, Silva said the initial flights will be between Lima and Seoul on a weekly basis.

“There will be three flights this month, leaving Lima the 8th, 15th and 22nd of December,” Silva said. 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…

One Million Tourists Visit Machu Picchu in 2011

The ancient Inca citadel of Machu Picchu, uncovered from overgrowth and obscurity 100 years ago by U.S. explorer Hiram Bingham, will have received at least one million tourists by the end of this year, according to Percy Canales, president of the National Chamber of Tourism, Canatur.

The number of visitors represents a 30 percent hike over last year — when 660,000 people visited the site— and is undoubtedly due in part to the mass Read more…

President Humala returns from APEC Summit in Hawaii

President Ollanta Humala was back at the government palace Monday and the increasing noise of social protests, following his successful week in Hawaii at the 19^th APEC Summit with other leaders of the 21 member countries of the Asia Pacific Economic Forum.

Peru was recognized as one of the Asia Pacific basin’s three emerging economies, and President Humala, together with the President of Vietnam, Truong Tan Sang, were welcomed as the new leaders among the APEC economies.  Humala took office on July 28 this year, and Truong  was appointed head of state of Vietnam on July 25.

Humala, accompanied by his ministers of Economy, Foreign Affairs, and Read more…

Next Page »