Peru's Success as APEC President: Unveiling Million-Dollar Investments and Economic Opportunities

2023-07-03 19:04:50

In what will be the third time that Peru assumes the presidency of the Asia-Pacific Economic Cooperation Forum (APEC) by 2024, the Foreign Ministry revealed the million-dollar investment that previous events left for the country.

As recalled, Peru already assumed the APEC presidency in 2008 and 2016. Along these lines, the Foreign Ministry highlighted that both presidencies left more than US$9.4 billion in investments in the country.

Now, with a third management for the month of next November, the position of our country in the aforementioned region was highlighted.

Ambassador Carlos Chávez-Taffur, president of the APEC Peru 2024 Presidency working group, stressed that this presidency “positions us strategically” and contributes to the post-pandemic economic reactivation.

In addition, it promotes the image of Peru as a destination for doing business and improves the conditions to develop a greater number of economic and technical cooperation projects financed by APEC.

Incorporation since 1998

He said that since we joined this forum in 1998, Peru’s trade with the 21 APEC economies has grown 12% per year, according to ComexPerú. In addition, 67% of Peru’s commercial exchange occurs with the APEC economies, according to figures from 2022.

He recalled that, in 2016, the regions that hosted the forum generated approximately US$20 million in the areas of tourism, food, transportation, security, and the creation of temporary jobs. And it is that during the year in which Peru held the presidency of APEC, more than 33 thousand accreditations were registered, among delegates, businessmen and journalists.

approved projects

Chávez-Taffur also informed that the organization of APEC Peru 2024 has already begun to generate the approval of projects by APEC. Last May, 10 cooperation projects were approved, equivalent to approximately 1,150,000 dollars. Last June, more than 30 additional projects were submitted for APEC financing.

On the other hand, he specified that the president of the United States, Joe Biden, will hand over the presidency of APEC 2024 to Peru next November. Subsequently, from December to November 2024, the meetings of senior officials, ministers, and the long-awaited Summit of 21 APEC Economic Leaders will take place.

DATA

APEC is made up of Australia, Brunei Darussalam, Canada, Chile, China, Hong Kong China, Indonesia, Japan, Korea, Malaysia, Mexico, New Zealand, Papua New Guinea, Peru, Philippines, Russia, Singapore, Chinese Taipei, United States, Thailand and Vietnam. During 2016, the leaders of the United States, China, Japan, among others, arrived in Peru. In addition, 1,200 businessmen from the APEC region and more than 3,000 representatives of the international press arrived. Now, in 2024, Peru will receive an equal or greater number of visitors.