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PeruEconomic and Trade Relations with
the European Union
Jose Luis Silva MartinotMinister of Foreign Trade and Tourism
June, 2012
In fo
rce
Peruvian Integration to the global economy through Free Trade Agreements
Andean Community United States China
South Korea
Mexico
Cuba
Japan
Canada
Singapore Chile
Thailand
Sig
ned
Venezuela
GuatemalaEuropean Union
Costa Rica
Panama
Neg
otia
tions
El Salvador
Honduras United StatesSingapore
Chile
Vietnam
Brunei
New Zealand
Australia MalaysiaTrans Pacific Partnership
(TPP)
Its FTAs (negotiated during the last decade), geographic location, and the best airport and port in South America give Peru the conditions to consolidate itself as a HUB for trade and investment with the world.
Peru features economic and policy decision stability, offering clear and predictable rules for trade and investment.
Peru currently benefits from broad market access and opportunities for global business:
Trade and investment with 59 countries covered under FTAs
More than 3,100 millions of people (45% of world population)
Partners under FTAs represent 84% of the World Gross Domestic Product (more than US$ 60 trillions GDP)
95% of Peruvian exports to the world are covered under FTAs (US$ 43,440 millions in 2011).
90% of Peruvian imports from the world are covered under FTAs (US$ 33,940 millions in 2011).
A Growing and Solid Partner for Business
4Source: SUNAT (Perú), Brasil y Paraguay (COMTRADE), Ecuador (INEC), Colombia (DANE), Mexico (INEGI), Chile (DNA)
Exporting to the World
Peruvian Exports to the World(US$ billions)
2,1 2,2 2,3 2,6 3,5 4,3 5,3 6,3 7,5 6,2 7,7 10,24,8 4,8 5,4 6,49,2
13,0
18,521,8
23,220,9
28,1
35,6
11,1
38,2
6,9 7,0 7,7 9,012,7
17,3
23,8
28,130,7
27,1
35,8
45,7
49,3
0,0
5,0
10,0
15,0
20,0
25,0
30,0
35,0
40,0
45,0
50,0
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012e
NON TRADITIONAL TRADITIONAL TOTAL
China15%
Switzerland
13%
USA13%
Canada9%Japan
5%
Chile4%
Germany4%
South Korea4%
Spain4%
Others29%
Peru: Participation of the World total exports by destination 2011
Peru vs Latin America: exports variation (2011/2010)Peruvian exports are dynamic and have
diversified destinations worldwide, with an increasing participation of value added products.
Source: SUNAT
5
(US$)
(US$ Milllions)(Number of exporting companies)
Peruvian Export success had positive impact in its real economy
(Number of exported products)
Peru: Companies and products exported to EU
EU is the first main destiny for Peruvian exports (19% of its total exports) and the third main supplier for Peruvian imports (11% of its total imports).
Since 2005, there has been significant increase in the number of Peruvian products and export companies to the EU.
Source: SUNAT
Peru - EU bilateral trade
Bilateral Trade Peru – Germany(US$ millions )
In 2011 the total trade with Germany reached an historic peak. It shows a stable recovery from 2009 downfall, due to the international financial crisis.
Germany is Peru’s second largest trading partner in Europe.
Source: SUNAT
Germany in Peru’s trade with Europe 2011
Peru - Germany bilateral trade
The European Union – Peru Trade Agreeement
Key elements
Key elements
Key elements
EUROPEAN UNION:
On May 31st, 2012 the European Council authorized the European Commission to sign the Trade Agreement. This authorization provides for the possibility of provisional application of the Trade Agreement.
Subsequent signature of the Trade Agreement.
The European Council and the Commission formally send the text to Parliament for approval.
Provisional entry into force.
Next Steps
PERU:
Public entities have given their approval to texts negotiated.
The Ministry of Foreign Trade and Tourism prepares the benefits and results reporting.
The Peruvian Ministry of Foreign Affairs evaluates the nature of the Agreement in order to establish its approval mechanism, either with a floor vote on the Peruvian Congress, or by an Executive Order (Supreme Decree).
Tourism
The Estela Raymondi, landmark of the ‘Chavin’ pre-inca culture in northern Peru.peru.infoperu.travel
An exceptional and acclaimed tourist destiny
• Birthplace of ancient civilizations, 11 sites declared as UNESCO World Heritage sites.
• Machu Picchu is one of the ‘New Seven Wonders of the World’.
• It is a melting pot of cultures
• Tourists are highly satisfied: 100% “would recommend it” as a place to visit.*
• One can visit Peru year round.
• Variety of climates due to our diverse geography.
Macchu Picchu, Inca City (Cuzco, Peru) Nazca Lines (Ica, Peru)
Multiple, unique and exceptional touristic destinations
Kuelap Moche Route North Beaches
Arequipa - ColcaLakeTiticacaAmazonas
• Peru and International Cooperation systems will invest more than US$ 163 M in adding value to these sites in the near future.
• Peru has attractive investment opportunities for the private sector in touristic development: cultural, natural and historical sites, among others.
15
PeruEconomic and Trade Relations
with the European Union
Jose Luis Silva MartinotMinister of Foreign Trade and Tourism
June, 2012