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PERU, KUWAIT ENTREPRENEURS TO BOOST BILATERAL TRADE

LIMA, –Recently-created Kuwaiti-Peruvian Friendship Society will work towards boosting trade opportunities between both nations, the Association of Peruvian Exporters (ADEX) announced.

The guild identified a total of 265 unexploited opportunities in the said market, mainly in the chemical and agro-industrial sub-sectors.

Peru and Kuwait began forging this integration space in 2014 with the purpose of bolstering small enterprises and the role of women in productive economic activity.

The Society also aims to promote investments and exchange of experts from various fields; support financial, technical and scientific cooperation; organize specialized conferences; and boost infrastructure projects implementation.

The process was completed last September 22, when the group’s Kuwaiti head Mustafa Y. Behbehani and Peruvian Ambassador to Kuwait Heli Pelaez – head of the Peruvian side- inked a Memorandum of Understanding (MoU) in Kuwait city.

As part of the alliance, the countries will maintain mutual visits in order to promote the aforementioned objectives.

Regarding Peru-Kuwait trading opportunities, Adex identified a total of 265 opportunities for Peruvian products to exploit in the Arab nation, mainly in subsectors: chemical (60), farming and agro-industrial (53), metal-mechanical (43), iron-steel and metallurgy, textile, among others.

Peruvian products with potential in Kuwait include bananas, baby diapers, refined copper wire, jewelry, onions, frozen shrimps and prawns, cookies, washing powders, Portland cement, guavas, mangoes, perfumes, among others.

According to the ADEX Data Trade Business Intelligence System, Peru-Kuwait trade exchange reached US$1,154,000 during the January-July period: US$1,132,000 exports to the Gulf nation and merely US$ 22,000 imports.

It should be noted all deliveries to the Asian Gulf nation constituted value-added exports and recorded a 25.7% increase when compared to the same period in 2015.

Most important shippings are fresh pomegranates, fine-hair fibers, prepared or preserved olives, quinoa, cereal-based products, evaporated milk, beans, clothing items, among others.

Imported products were paints, varnishes and Dippel’s oil.

Source: Nam News Network