Peru’s Ambassador to T&T, David Francisco Málaga who described the country as one of the region’s top agricultural producers, wants to see increased trade with T&T in this area.
“It’s a huge greenhouse. In the last five years, Peru maintained the highest annual growth rate in non-traditional exports in the region with an average annual expansion of 8.8 per cent, mainly in agricultural products. Our non-traditional exports reached a record high of US$10.42 billion in 2022. Peru has become an important supplier of food to the main markets around the world. We are among the top 20 biggest fruit and vegetable producers in the world,” Málaga said.
Málaga spoke on Monday at a Doing Business with Peru webinar hosted by the T&T Coalition of Services Industries (TTCSI).
He said Peru and T&T now celebrate 55 years of diplomatic relations.
“Our sound relationship is based upon shared democratic principles, global peace and the eradication of poverty. Food security of our populations and the fight against poverty and malnutrition have become one of the priorities of both countries and sustainable development are the essential conditions to achieve food security.”
He added that the webinar was hosted by the Embassy of Peru in T&T and the TTCSI to showcase the opportunities offered by the South American country in the area of the supply of high quality fresh fruit and vegetables.
He blamed the current global food crisis on the “devastating” effects of climate change and armed conflicts that have generated a shortage of fertilisers globally and inflation which he said has all impacted the price of food.
“The search for global solutions to international problems, regional unity and cooperation offer practical solutions to face the food crisis.”
He said thanks to Peru’s climatic conditions, the growing and production of diverse fruit and vegetables is possible throughout the year.
He also informed that from September 13 to 16, the Peruvian Embassy will host its second food festival at the Hyatt Hotel, Port-of-Spain.
The TTCSI’s CEO, Vashti Guyadeen who also spoke during the webinar highlighted Peru’s successes in the tourism sector.
“If you do a Google search for Peru, the results will point to its rich archaeological heritage—the Incas, Machu Picchu, the mysterious Nazca Lines—which is the backbone of its thriving tourism sector.
“The sector employs some 11 per cent of Peru’s population. In 2021, Peru generated around US$1.04 billion in tourism revenues. By December 2022, that figure had moved up to US$3 billion, according to c-e-i-c-data-dot-com.”
She said for T&T services sector companies operating in the tourism industry, Peru’s performance in the tourism sector sounds like desirable growth, and an exciting market they may wish to explore.
“I am sure some of you already may have participated in the Embassy’s business-to-business tourism promotion during this month. In addition, I know the Ambassador and his team have been pursuing opportunities to share his country’s tourism expertise with us, as well as to make it possible for more T&T nationals to experience the vibrant mix that is the Peru tourism and cultural package.”
She said local services companies operating in the education sector should take note that in July 2022, Peru and T&T signed a first Memorandum of Understanding (MOU) for inter-institutional cooperation between both countries’ national libraries—with NALIS and the National Library of Peru working together to protect and preserve both countries’ documentary heritage, among other projects.
“I am aware that His Excellency and his team are also pursuing other areas for mutual cooperation and technical assistance in the education sector.”
She pointed out that it may be in the agriculture and fisheries sectors—especially in terms of T&T’s food security agenda—where there may be much to explore.
“Indeed, Ambassador Málaga has gone on record as stating that Peru is eager and willing to share its expertise in these areas of economic activity. Peru has sought to increase its imports of fertilisers from this country, which is critical for its expanding agricultural sector.”
She quoted statistics which show that according to the United Nations COMTRADE database on international trade, in 2021, T&T’s exports to Peru were valued at US$7.88 million.
“As a matter of interest, the lion’s share of those exports were organic chemicals such as acyclic alcohols and their halogenated, sulfonated and nitrated derivatives, worth some US$7.29 million, while inorganic chemicals, precious metal compounds, isotopes and plastics also added roughly US$500,000.”
She added that the UN’s COMTRADE database on international trade reports that Peru’s exports to T&T during the year 2021 were valued at US$16 million.
Of that figure, plastics contributed $10.27 million, vegetable, fruit, nut food preparations made up just over US$936,000 and dairy products, eggs, honey, and other edible products were valued at US$880,000.
She also noted that Peru is one of the world’s largest exporters of quinoa—“the golden grain of the Andes”—which has been gracing T&T’s grocery shelves for many years now.
“In keeping with both our countries’ food security agendas, I could easily see a boost to those figures I’ve just quoted—in terms of Peru importing more of T&T’s fertilisers and chemicals, and T&T importing more of Peru’s agricultural products.”
She concluded by saying that the rationale behind the TTCSI’s Doing Business with the World Series is to help small and medium enterprises (SMEs) operating in services industries in T&T who are eager to expand into new market and find their counterparts across the world.
“One important step we’ve taken to support our SMEs is to create a National Services Exporters Portal (NSEP).
“This portal makes it possible for T&T’s services sector firms to be seen by and make connections with services sector firms in other countries and is a critical pillar supporting our Doing Business with the World Series,” said Guyadeen.
