South African businesses in the mining sector have been urged to grab opportunities that exist in Peru.
The Department of Trade and Industry (dti) was this week in the Latin American country, together with a business delegation including companies in the mining, construction and engineering fields.
The delegation visited the Peruvian Institute of Mining Engineers to learn of the opportunities available and possible areas that could be explored in the sector.
Institute director Gonzales Galindor informed the delegation that Peru has a lot of opportunities available in mining and construction that South African businesses could tap into.
He said the fact that Peru’s economy was growing at such a rapid pace, and that the country was lagging behind in terms of infrastructure development, was enough indication of the need for investment in the country.
“Peru has experienced a steady economic growth of over 5% in the last three years and is the third highly globalised country in South America. Mining imports to the country have increased considerably from 2012 to 2013,” said Galindor.
Ambassador of South Africa to Peru Elsa Dry encouraged South African business to use the services and support available through the Embassy for them to do business with the Peruvians.
“I hope the information acquired here can be utilised as a base for you to establish your products in this vast market and ensure that trade between South Africa can be increased,” she added.
Galindor added that capital goods and construction material were high on the requirement list of his country due to all the construction that is happening there.
Dry, together with the officials from the dti, also met with the Ministry of Foreign Trade and Tourism to explore other areas of possible collaborations and engagements, in as far as trade and investment is concerned between the two countries.
Peru was ranked number 76 as South Africa’s import partner and number 90 as the export partner in 2012.