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  HOME | Peru

Peru Aims to Be Regional Power in Services Exports

LIMA – Peru aims to become a “regional power” in the export of value-added specialized services, oriented to the new economy and open to all markets, a process that is already underway.

The initiative was outlined by Peruvian Trade and Tourism Minister Edgar Vasquez during the inauguration of the 2019 Peru Service Summit business conference, the country’s most important trade platform for service exports.

The event, which brings together in the Peruvian capital more than one hundred foreign companies interested in services, is in its ninth year with the expectation of surpassing the business projected on previous occasions and reinforcing the country’s position “as a developer of specialized services.”

Software, debt collection, digital animation, marketing, advertising, engineering and mining services are some of the lines of business in which Peru seeks to show its competitive edge.

“Peru already exports services. We are talking about the fact that in recent years we have seen important growth in these areas. Of course, tourism and travel are important services, but we see that it is in the ‘others’ section, modern services, where we have found an interesting niche,” the minister said.

“Fifteen years ago, the promotion of value-added service exports appeared in Peru’s plans and we are succeeding. The future we have is promising,” he added.

Vasquez pointed out that Peru is entering into an “impressive virtuous cycle” and it has already begun to “take advantage of the country’s great possibilities due to its high level of global integration,” with free trade agreements that allow it to enter many markets on a level playing field, such as the European Union and the United States, among others.

In addition, Peru, as the home of an ancient culture, has a “cultural heritage through which it can produce an industry that can be projected onto services in a meaningful way,” the minister said.

This potential, together with the “very democratic practice that the export of services requires,” which only needs “a computer, good bandwidth and creativity,” will allow Peru to shortly position itself as a “developer of specialized services.”

“In Peru, now is a very special moment, it is a point of inflection for the sector. Expectations are very high and we see that there are many business associations that are seeing great potential in the future that lies before us,” he insisted.

Attendees at the 2019 Peru Service Summit held meetings and took part in business conferences throughout the week, some of which were via video-link with interested companies abroad.

During the summit the Latin American Association of Service Exporters also held their general assembly.

Since it began nine years ago, more than 1,900 business people have participated in meetings between exporters and buyers in the framework of the Peru Service Summit and have generated business opportunities valued at $601 million.

 

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