The Ministry of Foreign Trade and Tourism (Mincetur) has reported that Peru and the United Arab Emirates (USA) agreed to begin negotiations in May with a view to reaching a trade agreement.
“We agree that there is a great opportunity to increase trade between our countries if we have a Comprehensive Economic Partnership Agreement (CEPA). The process will begin in May 2024,” said Minister Juan Carlos Mathews in his X account, after meeting with his counterpart from the United Arab Emirates, Thani bin Ahmed Al Zeyoudi, within the framework of the 13th Ministerial Conference of the Organization. Trade World Cup (CM13), which takes place in Abu Dhabi.
The UAE is Peru’s main trading partner in the Middle East and represents a market of 9.4 million potential consumers, with a GDP per capita of US$52,000, according to Mincetur.
Furthermore, this country imports 90% of its food needs, which represents great opportunities for Peruvian exports, especially in the agricultural sector.
Along these lines, Darwin Cruz Fiestas, SME Internationalization and commercial intelligence consultant, highlighted that This market fits very well with our exportable offer.such as superfoods and organic products.
Due to the need that this market has to import foodhealth permits are processed quickly, therefore, the expert considers that the negotiation process with Peru will be quite agile and dynamic.
“We have to start looking at the possible sensitivities they may have, and also the issue of logistics, how fast it can be to go to the United Arab Emirates, if there is the necessary frequency, or perhaps the trade agreement can be an incentive for them to Shipping companies increase their flow to that part of the world,” Cruz concluded.
The data
Shipping. From 2017 to 2022 we have exported an average of US$710 million to the UAE each year; However, in 2023 the amount increased to US$1,035 million. Traditional products totaled US$1,010 and non-traditional products, US$25 million, according to Sunat data analyzed by Cruz.
Source: Larepublica
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