NEW DELHI – Carlos A. Herrera, executive director of Peru’s investment promotion agency ProInversion, invited Indian investors to share the “development challenge” with Peru at a meeting held in New Delhi on Thursday.
Herrera was in India to attend the India-Latin America and Caribbean (LAC) Conclave, an event that “allows one to present investment opportunities for the development of Indian companies and promote economic cooperation between the two regions.”
The director of the Peruvian state investment agency said his country’s economy has been growing by around 6 percent per annum in recent years, a trend that officials hope will continue in the future.
Herrera highlighted food production, mining, construction of port facilities, airports, roads and power plants as sectors offering opportunities to foreign companies.
He also pointed out that Peru, with its network of free trade agreements, is a good place to set up export factories as it allows one to reach the markets of the world’s major countries.
India and Peru have already taken the first steps towards a free trade agreement during Peruvian deputy minister of foreign trade Edgar Vasquez’s visit to India in August when he met with Indian officials.
Even without a preferential relationship, the value of imports between the two countries exceeds $700 million while exports stand at $600 million.
Peru exports mainly minerals and raw materials to the Asian country from which it imports medicines, textiles and machinery.
Peru’s president, Ollanta Humala, plans to travel to India early 2015 to continue strengthening bilateral ties.