According to Paulo Pantigoso, General Manager of Ernst & Young Peru, a Chinese firm is considering investing US$700 million in agricultural development projects in the Arequipa region of Peru.
“The initiative is intended to cover 40,000 hectares of land and would be located in the Arequipa region,” Pantigoso stated.
He went on to add that agro-business is seen as an excellent alternative for the development of bilateral trade ties.
In 2000, Peru exported agro-industrial products worth US$300 million, but in 2015 shipments exceeded US$6 billion.
In order to attract further investments from China, Pantigoso continued, it is strongly advisable to take part in thematic fairs to find the best suppliers for the market.
“Peru’s Private Investment Promotion Agency (ProInversion) is doing a praiseworthy job in this sense,” he said.
On the other hand, Peru-China Chamber of Commerce (Capechi) President Jose Tam noted that over 300 Peruvian firms actively export to China. “The number has increased over the time.”
Most of these companies are in agriculture-related sectors. “Red Globe stands out in this sense. Health-related issues prevent agricultural products from being shipped to China.”