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inPeru to strengthen trade ties with CanadaFriday, April 21, 2017 > 06:39:56
As part of foreign investment promotion efforts, Investing in Peru (inPeru) public-private association's 12th International Road Show will include Toronto (Canada), among its destinations.
The event featuring Peru's Economy and Finance Minister Alfredo Thorne and Central Reserve Bank (BCR) Governor Julio Velarde is slated for May 29.
The delegation projects meetings with over 200 local investors during its stay in the Canadian city, deemed one of the world's most relevant financial and trade centers.
The team will present the Inca nation as one of Latin America's best investment choices in key economic sectors like energy, mining, infrastructure, among others.
In this sense, inPeru will advertise the country's potential as a mining investment destination thanks to various projects to be developed in the short- and medium-term.
"Canada is one of the big global powers in the mining field. Our aim is not only to attract direct investment, but also the know-how to adapt it to future local projects," inPeru Chairman Francis Stenning affirmed.
A special objective for the association will be drawing capitals from Canadian pension funds and insurance firms to finance local mining, energy and infrastructure ventures.
"In addition to natural resources, Canadian pension funds [capitals] could be used for infrastructure development, especially for the reconstruction of northern [disaster-hit] areas, which require significant financial capital," Stenning observed.
inPeru's initiative will also serve to further reinforce the Andean country's trade relations with Canada.
Both countries are bound by a Free Trade Agreement that entered into force in August 2009, and has since boosted bilateral trade steadily.
In this vein, Peruvian exports to the North American country totaled US$1.684 billion at the end of 2016, whereas imports reached US$1.015 billion, the 2016 Peru-Canada Bilateral Trade Report revealed.
It is worth noting Canada's outstanding development in infrastructure, as well as its broad expertise in urban planning, will greatly contribute to Peru's post-disaster reconstruction.
inPERU is a nonprofit Peruvian association, supported by the Peruvian government and founded by the main business organizations of the Peruvian market.
The association seeks to promote investment opportunities in the country and contribute to the development of Peruvian capital and financial markets.
Government bodies endorsing inPeru include the Ministries of Economy and Finance, Foreign Affairs, as well as Foreign Trade and Tourism.
Central Reserve Bank (BCR), Superintendency of Banking, Insurance and Private Pension Funds Administrators, Superintendence of Securities Market and the Private Investment Promotion Agency (ProInversion) also support the association.