In 2010, Peru agreed to an FTA with the European Free Trade Association (EFTA), of which Swiss is a member.
Since then, trade relations between both countries have been increasing in the last 10 years.
Currently, there are 62 projects with an investment that exceeds US$80 million for a period of 4 years from 2021-2024, revealed Helene Budliger, Swiss State Secretary for Economic Affairs.
However, by 2028 new plans are expected to be developed, the official acknowledged.
“We have many projects in Peru. Among other things, the access path to the OECD will be the subject of our economic cooperation,” said Budliger.
In addition, he mentioned that they have started talks with the Ministry of Economy to “modernize” the EFTA in order to improve the bilateral investment treaty.
Mining presence
Among the Swiss companies present in the country is Glencore, which operates the Antapaccay mining company for the production of zinc and copper, and has 17,000 workers and contractors in Peru.
Another relevant one is Mediterranean Shipping Company, which in the first half of the year arrived at the Callao terminal with one of the largest capacity container ships that have arrived in Peru.
Exchanges
Gold represents 98% of Peruvian exports to Switzerland and reaches an investment of US$2,000 million per year, according to information provided by the Swiss Embassy to La República.
According to Mincetur data, until July 2022, exports of agricultural products amounted to US$51.8 million.
Thus, the Swiss embassy highlights foods such as avocados and cocoa, with an investment of US$700,000 in 2022, coffee, which reached US$200,000 with an increase of 28% compared to 2021, and mangoes with approximately US$1, 4 millions. Likewise, other products such as fine alpaca or llama hair (US$300,000) also rose.
On the other hand, imports from Switzerland to Peru are around US$100 million, in which sectors stand out such as pharmaceuticals, chemicals, machinery and high technology.
Keys
Agreements. Among the countries that are within the EFTA are Switzerland, Liechtenstein, Norway and Iceland.
Expectation. Ana Gervasi, Minister of Foreign Affairs, met with Helene Budliger to discuss Peru’s entry into the Organization for Economic Cooperation and Development (OECD).
Source: Larepublica
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