Peru is gearing up to host the Asia-Pacific Economic Cooperation (APEC) Forum in November 2024, marking its third time as the venue for this significant international gathering. This event not only positions Peru as a prime destination for business and trade but also underscores its commitment to fostering sustainable global economic growth. The Commission for the Promotion of Peru for Export and Tourism (PROMPERÚ) highlights the country's stable investment climate, supported by favorable policies and consistent economic expansion.
With an extensive network of 22 trade agreements involving 58 partners, Peru's economic ties span economies that represent 82% of the world's GDP, showcasing its deep integration into the global economy. Its strategic location on South America's west coast offers unparalleled access to markets in Asia, North America, and Europe, further enhanced by ongoing infrastructure projects aimed at boosting international trade.
The development of the Chancay Multipurpose Port is set to revolutionize Peru's trade capabilities, establishing it as a regional hub for commerce with Pacific coast nations and strengthening links with major Asian economies. Additionally, the construction of a new international airport in Lima, described as the largest and most advanced in South America, is expected to reinforce Peru's position as a key player in global commerce.
Peru's economy presents a wide array of investment opportunities across various sectors, including renewable energy, agribusiness, manufacturing, textiles, tourism, and high technology. The nation is also witnessing a boom in innovation and entrepreneurship, with startups and tech firms driving progress in multiple industries.
Beyond its economic strengths, Peru's rich cultural diversity and developed tourist infrastructure make it an ideal setting for large international events like APEC 2024. Cities such as Lima, Cusco, Arequipa, Trujillo, and Pucallpa are ready to accommodate over 160 meetings during the forum, offering a blend of historical and natural attractions alongside world-class cuisine to attract visitors from the 21 APEC member economies.
The importance of the Asia-Pacific region to Peru's economy is evident from recent trade statistics, with APEC economies accounting for 67% of Peru's foreign trade in 2023. Exports to these nations reached USD 44,089 million, with non-mineral energy exports surpassing USD 11,030 million, reflecting the diversity of Peru's export offerings. Tourism from APEC countries also significantly contributes to Peru's economy, with more than 1.2 million visitors in 2023, primarily from Chile and the United States.
APEC 2024 is anticipated to be a landmark event for Peru, enhancing its leadership in the Asia-Pacific region and affirming its status as a vital trading partner. The forum will also spotlight Peru's dedication to sustainable and responsible practices, encouraging investments that are environmentally friendly and beneficial to local communities.
As Peru prepares to host APEC 2024, the forum presents a unique platform to showcase the country's economic potential, cultural heritage, and strategic role in global trade. The outcomes of this event are expected to have a profound and lasting impact on Peru's international reputation and its influence on the future of economic cooperation in the Asia-Pacific region.
