LIMA, Nov 24 (NNN-ANDINA) — The Ministry of Foreign Trade and Tourism (Mincetur) on Wednesday reported that Peru and South Korea signed an agreement to strengthen the Special Economic Zones (SEZ).
Foreign Trade and Tourism Minister Roberto Sanchez held a meeting with Korean Ambassador to Peru, Yungjoon Jo.
At the event, the importance of the Asian country for Peru was expressed, as it is a strategic partner and sixth-most important business partner, Mincetur indicated.
Sanchez highlighted the need to continue with efforts to strengthen the trade-economic relationship, which was proven with the signing of a technical cooperation agreement to promote the attraction of foreign investment to said zones in the country.
He expressed Peru’s satisfaction for the upcoming start of the negotiation of the Free Trade Agreement between the Pacific Alliance and South Korea, with a view to becoming an Associated State of the Pacific Alliance.
The aforementioned meeting was also attended by Peru’s Exports and Tourism Promotion Board (PromPeru) Executive-President Amora Carbajal, as well as the Foreign Trade and Tourism Ministry’s Directorate of Asia, Oceania and Africa Department Head, Gerardo Meza.
On Nov 21, Peru and South Korea signed a technical cooperation agreement to promote the attraction of foreign investment in Peruvian Special Economic Zones, Mincetur indicated.
“In Peru, there are currently four Special Economic Zones in operation. They are located in Tacna, Piura, Moquegua and Arequipa. Our goal is to position them as competitive and attractive platforms for foreign investment,” said Deputy Foreign Trade Minister Miguel Palomino.
The official added that cooperation is a key component of foreign policy, as it contributes to national development.
In turn, Mincetur’s General Directorate of Foreign Trade Facilitation Head, Claudia Parra, explained that the signing of said agreement marks the beginning of a project that will favorably influence the country’s competitiveness. The implementation of the program is scheduled for 2022-2023.
“We officially start a great project that seeks to identify the existing limitations and, based on this, propose strategies to promote the attraction of foreign direct investment and improve the governance system of our areas,” she specified.
The initiative is the outcome of a joint effort by Peru’s public sector, with various Korean entities such as the Korea Development Institute (KDI) and the QIV & MERI consortium, Mincetur highlighted.
Peruvian exports to South Korea have grown steadily over the past two decades, reaching the highest value in 2021 by totaling US$2.827 billion.
According to data from Mincetur, a total of 167 companies have joined the benefits offered by the Special Economic Zones in tax and customs matters.
This has made it possible to generate, in favor of Peru, US$50 million in exports and US$101 million in imports during the first half of 2022. — NNN-ANDINA
