Danish companies need to discover the Peruvian market
Danish companies can make great investments in Peru - in particular after the EU in March made a trade agreement with the country to make trade less costly, says Assistant Professor from the Center for Business and Development Studies, Jacobo Ramirez.
The infrastructure of Peru is in need of a doing over, and industrial machinery is in short supply. This is where the trading potential for Danish companies are, says Jacobo Ramirez. This Wednesday, he will join a seminar at CBS, in which a trading cooperation between Denmark and Peru is on the agenda.
- Danish companies are not familiar with the potential of the Peruvian market. They think that it is only worth the effort to trade with Brazil and Asia, but it is not true. Peru has a stable economy, which is growing faster than the economies of other Latin American countries. Danish and international companies can benefit from this, he says.
Several export opportunities for Danish companies
The Peruvian economy has grown the past 10 years, which is owing to the increased number of private investments in the country, says Jacobo Ramirez. He stresses that Peru has one of the lowest inflation rates in Latin America and that the spending power is increasing because of the fast growth of the middle class. The new trade agreement between the EU and Peru means that the EU gains privileged access to 99.3 per cent of Peruvian agriculture and Peru gains 100 per cent access to industrial products in the EU.
- Earlier, taxes have made it very expensive to trade with Peru, but with the new trade agreement, many taxes will be close to zero. Peru needs a better infrastructure and industrial machinery. The country can learn a lot from Danish companies about energy and agricultural output, says Jacobo Ramirez.
Assistant Professor Jacobo Ramirez is one of the forces behind the Latin American Business Forum, which is launched in December. The aim of the forum is to promote trade between Peru and Denmark and will offer knowledge to companies on how to trade in Peru.