Q&A with Alvaro Silva Santisteban, Director TTIO of Peru in the UAE
- How has UAE's investment in Peru supported its logistics infrastructure?
The relationship between Peru and the UAE continues to go from strength to strength and has been beneficial for both countries. Peru is the second biggest investment destination for the UAE in Latin America, having received more than $2 billion USD since 2010. Conversely, exports from Peru to the UAE also continue to grow with export figures from January to May this year topping $226 million USD, breaking all earlier records for that same period.
Peru stands out as a non-discriminatory investment destination, meaning that all business ventures – undertaken by foreign or domestic investors - are subjected to the same processes and parameters.
Foreign Direct Investment is immersed within Peru’s economy and is significant to the development to, and within, an wide array of sectors. DP World’s latest investment in Terminales Portuarios Euroandinos, in the port of Paita is a case in point as its presence has grown, diversified and integrated, as the company also runs the port in Callao, Lima, the only port in a capital city in the West coast of Latin America.
Opening up our markets and streamlining our processes has been instrumental in fostering stronger international relations, including those with the UAE.
- Can you expand on Peru's growth into a logistics hub for Latin America?
In today’s business environment, it is key to maximize competitive advantages. We strive to do so within the region, thus within the Western Pacific of Latin America, it is the aim to further increase our logistics participation.
When you consider Peru’s recent ranking as the most reputable Latin American country, and 25th overall globally in the Country RepTrak rankings, the logistics sector plays a significant role.
We built up our credentials as a reliable trade partner by satisfying international demand for a strong logistics corridor to and from Latin America, facilitating trade between not only our country but also the wider region and the rest of the world.
Taking into account that Peru’s exports grow year on year, playing a role in the international market, a proper logistics scheme is essential.