During the meeting held by the president peter castle with the Secretary of Foreign Affairs of MexicoMarcelo Ebrard, the head of the Ministry of Foreign Trade and Tourism, Roberto Sánchez, commented that it is expected to exceed the figure of US$16,000 million of foreign investment coming from that country.
“Mexico is a strategic ally. In 2021, it became the third commercial partner of Peru in Latin America, while our country is the second recipient of Mexican direct investment. In this sense, it is important that they continue to invest, since to date they exceed US$16,000 million in investments”stressed the minister.
In addition, Sánchez highlighted that between 2003 and June 2022, the investment of the Aztec country came through more than 22 companies that executed around 34 projects in Peruvian territory, capital income that to date has generated more than 19,000 jobs. “Only the Southern Cooper company has invested approximately US$ 9,000 million in Peru.”
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“The confidence of Mexican businessmen has strengthened various Peruvian industries: commercial aviation, telecommunications, food and beverages, cement, the chemical industry, various manufacturing, construction, mining, microfinance and even movie theaters. And it is not for less, the legal and legal framework of Peru offers investment security, a fact that is very important for those who seek to do business in the country”.
The ambassador of Mexico Pablo Monroy also participated in the meeting; the Minister of Foreign Relations, César Landa; the head of the Ministry of Economy Óscar Graham; the Minister of Energy and Mines, Alessandra Herrera and the executive president of Promperu, Amora Carbajal.
figures
In 2021, Mexico became the third commercial partner of Peru in Latin America after Brazil and Chile. Trade is based on the purchase of a set of goods that accounts for 76% of trade, highlighting household appliances (23% of imports) and automotive goods (16%), and the export of agricultural goods (31%), minerals ( 19%) and tires (10%).
Since the beginning of the century, trade between Peru and Mexico has been increasing, registering a record in 2014 (US$ 2,593 million). In 2020, due to the health crisis, trade fell 15.2%, however, in 2021 it recovered pre-pandemic levels, reaching US$2,386 million, as a result of higher exports and imports.
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Agro-export, the first economic sector that exports goods to Mexico, was a record in 2021 (US$ 182 million) thanks to higher shipments of tare (+130%), cocoa beans (+48%), paprika (+40% ) and fruits (+35%). Added to this are the higher exports of lemon essential oil (+409%) and natural colorants (+72%).
In 2021, the Peruvian import of Mexican goods grew 24% due to the greater purchase of tractors (+99%) and vehicles (+50%). Mexico is the 1st supplier of household appliances in Peru. In 2021, the import of household appliances grew 37%, highlighting the higher purchases of blenders (+88%) and washing machines (+53%).
Additionally, purchases of plastic products (+21%), mainly manufactured goods (+50%), and agricultural goods (+27%), mainly beer in the category of spirits (+119%), grew. Steel imports increased 10%, while information technology imports fell for the 2nd consecutive year by 26%.
Peru is the second largest recipient of Mexican foreign direct investment in Latin America, after Brazil, whose accumulated amount in the last ten years amounts to almost US$17 billion, according to figures reported by the companies themselves.
