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Each day TFO Canada publishes a sample of trade news on the Canadian import market along with any new, updated or changed regulations and legislations regarding international trade; countries in which TFO Canada offers services and on the export sectors which it promotes.

 

FTA To Boost Peru's Non-Traditional Exports To Canada

Friday, April 13, 2012 > 09:33:14
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LIMA, April 12 (BERNAMA-NNN-ANDINA) -- Peruvian non-traditional exports to
Canada are likely to soar 20 percent this year up to US$192 million, fuelled by
the Free Trade Agreement (FTA) in force since Aug 2009, said Peru's Minister of
Foreign Trade and Tourism, Jose Luis Silva on Wednesday.


"Peru's main exports to Canada are commodities and value added products worth
US$96 million, which have grown significantly in recent years fuelled by the
free trade agreement", he said.


He said that non-traditional exports doubled to US$96 million last year from
US$48 million in 2009. Export growth has been driven by increased sales of the fishing industry (118 percent), agriculture (48 percent) and textiles (23 percent). Other products which have grown significantly are fishing nets (800 percent),
seafood (600 percent) and mangoes (200 percent).


"There's still too much to be done in agriculture, because the total exports are
still too small compared to the potential of the Canadian market," he said after
a meeting with Canadian Minister of International Trade Ed Fast, who is on a
visit to Lima. Both ministers assessed the scope of bilateral trade after the FTA entered into force on Aug 2009.


Silva said Peruvian total exports to Canada amounted to US$4.177 billion last
year, of which 97 percent were traditional products and only three percent were
non-traditional. He said it was very difficult to estimate the growth of Peru's total exports to Canada as it depended on international prices of raw materials.


"On raw materials, we will depend heavily on international prices rather than
what the Ministry of Foreign Trade and Tourism (Mincetur) or businesses can do,"
he said.


He said Peruvian imports from Canada totalled US$583 million last year, and
included raw materials and value added products.

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