Officials from the Ministry of Foreign Trade and Tourism (Mincetur) of Peru and their counterparts from the United Arab Emirates (UAE) agreed this Monday (26.02.2024/XNUMX/XNUMX) to begin negotiations in the next months with the aim of reaching a trade agreement between both economies.
This was reported by the Ministry of Foreign Trade and Tourism (Mincetur) on its X account (formerly Twitter) in which it detailed that the UAE is our country's main trading partner in the Middle East.
“This country represents a market of 9.4 million potential consumers, with a GDP per capita of 52,000 dollars. This country imports the 90% of their nutritional needs, which represents great opportunities for Peruvian exports, especially in the agricultural sector," he stressed.
The meeting between the officials took place within the framework of the Thirteenth Ministerial Conference (CM13) of the World Trade Organization (WTO), which opened in Abu Dhabi on Monday with a call to the Organization's members to take full advantage of the potential of the multilateral trading system.
Official data
El Peru-UAE trade has grown significantly in recent years, based mainly on the export of minerals, mainly gold, according to Mincetur data.
The UAE is the 5th most important market for gold exports from Peru, according to Mincetur figures for 2022.
For its part, Peru imports from the UAE basically polymers for the manufacture of plastic manufactures.
In 2022, trade between Peru and the UAE decreased by 19%, due to a reduction in imports (it bought fewer polymers and stopped importing diesel) and exports (-14% in gold).
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