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Mission for Growth: enhancing business cooperation between Peru and the EU

European Commission - MEMO/13/21   22/01/2013

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European Commission

MEMO

Brussels, 22 January 2013

Mission for Growth: enhancing business cooperation between Peru and the EU

Tomorrow Vice President Antonio Tajani travels to Peru accompanied by a large business delegation composed of 44 representatives of 37 European companies and industry associations from 10 EU Member States. In total, these organisations and their member companies have a combined turnover of some € 320 billion, while the business associations alone represent 64 500 companies which generate almost two million jobs, either directly or indirectly. This mission is part of the series of "Missions for Growth" to help European enterprises, in particular small and medium sized enterprises, to better profit from fast growing emerging international markets. The visit will reinforce partnerships to help industry and SMEs to fully exploit the potential for commercial relations between Peru and the EU.

During his two day visit to Peru, Vice President Tajani will meet with the President of the Republic Ollanta Humala Tasso, the President of the Council of Ministers, Juan Federico Jimenez Mayor and several members of the Peruvian government, notably the Minister of Foreign Affairs Rafael Roncagliolo Orbegozo and the Minister of Production Gladys Triveño Chan Jan.

With his Peruvian counterparts, VP Tajani will sign Letters of Intent in the fields of SME development, industrial cooperation, raw materials, sustainable construction and tourism.

1. SME development

The aims are to improve the business environment, promote entrepreneurship, help Peruvian and European SMEs to grow and do business together and to better compete in the global economy. The Letter of Intent will improve the framework conditions for SMEs by reducing administrative burdens, increase access to finance, and improve markets by modernising the regulatory environment. Such cooperation will help to identify the main obstacles related to regulatory and administrative environment for SMEs, as well as finding appropriate solutions to overcome them. A regular high level dialogue will support this process, as is successfully being implemented with other countries, such as China or the US.

2. Industrial cooperation

The aim of this letter of intent is to promote and encourage direct cooperation between industrial sectors of mutual interest to the EU and Peru based on the bilateral cooperation programme 2007-13, in order to promote their growth and development and to reduce the gap between them.

3. Raw materials

A letter of intent to open policy dialogues on raw materials will be signed. The extractive industries of both sides play a key role in the supply of these materials. The competitiveness of these sectors is a crucial factor in reducing vulnerability of industry in both regions by making supply of these materials more secure.

4. Sustainable construction

A specific political agreement will be signed in the field of sustainable construction in order to deepen industrial cooperation with the aim of identifying priorities and developing mutual potential in the fields of construction design codes, construction processes and environmental impact assessment. The intention is to support and promote policy measures to establish a dynamic, integrated and decentralised approach to managing cooperation in areas of interest to the construction industry, so as to create a favourable environment to serve their mutual interests.

5. Tourism

This letter of intent will promote actions to facilitate tourism flows between the EU and Peru by promoting travel, in particular in the respective low seasons. The intention is to establish a bilateral consultation mechanism to promote cooperation on and a common understanding of issues in the field of tourism. Particular focus will be placed on holding regular dialogue of senior officials and exchanging best practices on subjects of mutual interest, such as sectoral economic growth and job creation, sustainable development and reinforcement of socio-economic knowledge.

Peru: Economic background

Surface Area: 1,285.2 thousand sq km

Population: 30 million inhabitants - 2011

GDP in 2011: € 121 billion

GDP per capita in 2011: € 4,032.7

EU goods exports to Peru in 2011: € 2.8 billion

EU goods imports from Peru in 2011: € 6.4 billion

The Peruvian economy has maintained a fast economic growth pace throughout the first semester of 2012, growing a robust 6%. However it is also starting to fell increasingly the negative impact of weakening external demands for its exports due to the international economic crisis.

Peru's foreign trade

Exports: The EU is Peru's first export market, with Peru's exports to the EU accounting for 18% of its total exports in 2011. In recent years Peru's exports to the EU have slightly increased. Only in the first semester of 2012 have Peru's exports to the EU decreased with 11% due to the persistent economic crisis. Peru's exports to the EU in 2011 were: (i) fuels and mining products with a total value of € 3.7 billion which accounts for 58.5% share of the total Peruvian exports to the EU; agricultural products with a total value of € 1.99 billion, 31.5% share of the total Peruvian exports to the EU and chemicals with a total value of € 174.5 million, a share of 2.8%.

Imports: The EU is Peru's third largest source of imports. In 2011 the imports from the EU accounted for 12% of Peru's total imports. The United States and China are the first and second largest sources of imports to Peru. The main EU products exported to Peru in 2011 were: (i) machinery and transport equipment with a total value of € 1.48 billion which accounts to 52.9% share of the total EU exports to Peru; (ii) chemicals with a total value of € 383.2 million, a share of 13.6% of the total EU exports to Peru; (iii) processed agricultural and agricultural products, with a total value of € 118.4 million, a share of 4.2%.

Major markets: United States, China and European Union.

EU trade with Peru

The Multipartite Trade Agreement between Peru/Colombia and the EU will soon enter into force. It will open up markets and increase stability in our trade relations as well as ensure a level playing field with competitors in the region such as the United States.

Exports: EU exports to Peru have slightly increased over time and represent only 0.2% of total EU exports. In terms of major export partners for the EU, Peru ranks number 56.

Imports: Imports from Peru to the EU represent only 0.4% of the total imports to the European market and Peru ranks only 42 in terms of EU import partners.

More information on Mission Growth


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