Peru's ADEX says trade relations will be strengthened under Biden Administration

Peru's ADEX says trade relations will be strengthened under Biden Administration

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Peru's ADEX says trade relations will be strengthened under Biden Administration

Peru's Exporters' Association (ADEX) says that the swearing-in of Joe Biden as the 46th President of the U.S. will allow the strengthening of trade relations between the two countries.

Edgar Vásquez Vela, Director of the Global Business and Economy Research Center of the Exporters Association CIEN-ADEX, highlighted the role of the U.S. within the Peruvian economy.

According to Vásquez, the U.S. is a key market for Peruvian exports. How the country managed the pandemic as well as how Peruvian companies take advantage of the opportunities offered by the U.S. will influence the recovery of exports, he said.

During an event organized by ADEX, the commercial adviser of the U.S. Embassy in Peru, Pat Cassidy said that their office has a ‘Select U.S.A.’ program, which seeks to promote and facilitate investment in the U.S.

With this initiative, the Peruvian business community will be able to have the help of an advisor who will give them information to make decisions, connections with the people of the same field and training on federal regulations of each state.

“The political-commercial relations with the North American giant are developed in a framework of cordiality, our economies are complementary and it is clear that there is still potential to take advantage of,” Vásquez said.

The association said that according to the figures from the ADEX System of Commercial Intelligence of Trade Data in 2008 (January-November), one year before the start of the trade deal, the U.S. was the main market for four non-traditional sectors including agribusiness, clothing, non-metallic mining and various.

Meanwhile, in 2020 despite the pandemic, the U.S. is number one in seven of the sectors: agroindustry, textiles, clothing, fishing CHD, metalworking, non-metallic mining and various.

Regarding how the U.S. market has performed, ADEX said that between January and November of 2020, agribusiness, the most important sector by amount exported (US$ 2.1 billion), grew 10.4 percent due to the performance of blueberries, grapes, asparagus and avocados among others.

The figure is in contrast to non-traditional shipments to the U.S. ($3.4 billion), which fell by 0.9 percent in the same period.

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