The director of the Association of Exporters (ADEX), Rafael Del Campo, stated that Panama is a market with great investment and trade opportunities, particularly in the agro-industrial sector. In this sense, he mentioned that said country annually imports agro-industrial goods to Peru for more than US$1,112 million.
Of this total, 45% are products that make up the Peruvian exportable basket, which represents an interesting opportunity for entrepreneurs in this area.
Del Campo stressed that both countries have maintained great ties of friendship, collaboration, commercial and economic relations for almost 120 years. Peru was the first country in Latin America and one of the first in the world to recognize Panama as sovereign when it declared its independence in 1903.
“Both nations have common interests in their fight for the protection of democratic institutions, freedom, the defense of human rights, the fight against corruption, drug trafficking and money laundering”he said during the networking event between the delegation of public officials, representatives of the private sector of said nation, the Pro-Panama delegation and ADEX businessmen.
Likewise, he said that a series of agreements is maintained in the political, commercial, tourist, maritime, and cultural fields, among others, one of the most representative being the Free Trade Agreement signed in 2011. “It is the eighth commercial partner of Peru in Latin America. The exchange is mainly fuel, representing 72% of the total”, detailed.
Trade
The director of ADEX recalled that, between January and September of this year, Peruvian exports to that destination grew 10%, imports contracted 46.4%, since soybeans were not requested and the purchase of balanced food, plastics, medicines was reduced , and metallurgical products.
“In addition to the increased sale of fuels, the strong increase in textiles and clothing stood out, with a rate of more than 69%. Exports from the agricultural sector totaled US$ 43.9 million (January-September), highlighting the organic banana that grew 12.6%”, pointed out.
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Currently, Panama acquires grapes, chocolate, malt beer and sweet biscuits from Peru -he continued-, on the other hand, products such as malt extract, canned tomato, fresh garlic and fresh onion represent an interesting option for Peru since they are products that they demand and we dispatch them. 50% of the agricultural goods imported by that nation correspond to goods that Peru still does not produce or does not have an exportable supply.
Regarding other sectors, trade between the two states in chemical products grew by 26% and the metal-mechanic sector by 18%. The trade balance was positive for Peru with US$ 391 million.
At the company level, between January and September 2022, 477 companies exported products to said destination; Therefore, it is a market with interesting expectations in order to have a greater participation of the business sector.
