Seminar highlights that the economies of Peru and Taiwan are highly complementary

The Seminar “Taiwan and Peru: new partners in a changing world” was attended by important speakers and academics from Taiwan and Peru.

Among them, Ms. Francisca Yu-Tsz Chang, Representative of the Taipei Economic and Cultural Office in Peru, welcomed the event and emphasized the best wishes for both economies to achieve a greater bilateral flow in both the sector commercial as tourist.

Patricia Li Sotelo, President of the Somos Perú Democratic Party and President of the NGO “Corazones del Perú”, was the special guest who thanked Taiwan for the constant humanitarian aid provided for the common pots of her NGO. She reiterated the great social work done with the support of Taiwan, whom she considers a true ally.

Carlos Posada, Institutional Director of the Chamber of Commerce of Lima, made known about “The expectations of the Peruvian business community in the commercial exchange with Taiwan”, highlighting that these are focused on strengthening the bilateral relationship and creating opportunities for mutually beneficial business in the areas of technology, machinery, investment and innovation, among others. Peruvian companies hope to attract Taiwanese investment in infrastructure, technology, renewable energy and tourism.

Kwo-Wei Kung, Director of the Center for Latin American Studies at Tamkang University, gave a brief presentation on the history of Taiwan and how it has achieved its great economic, commercial and democratic development. He also stressed that Taiwan is going through an intense situation and therefore must have an open culture of friendship to grow in business. “The situation you are facing denotes making more friends and keeping an open mind” Taiwan is the 21st economy worldwide, the 7th most competitive country, 17th in exports, 17th in imports and 4th in foreign exchange reserves .

Miguel Vegas, General Manager of the Peruvian Association of Blueberry Producers and Exporters of Peru, referred to “The advantages of the Peruvian blueberry worldwide and the importance of the Taiwanese market”, noting that the amount of fresh blueberries exported to Taiwan has increased increased significantly in recent years. In two years, Taiwan ranks as the fourth main export market for Peruvian blueberries.

Gabriel Arrieta, Head of Economic Studies and Trade Intelligence at the Exporters Association’s Global Business and Economy Research Center (CIEN-ADEX), focused on “Priority issues for Peru in the promotion of trade agreements”, stressing that in addition to the classic issues of access to markets, services and intellectual property; there are five other factors that are priorities for Peruvian trade agreements: access to information for SMEs, incentives for sustainable development and women’s rights, foreign investment, environmental protection policies and trade facilitation; conditions that characterize Taiwan and whose experiences can be shared with friendly countries.

Ming-Min Yang, Researcher at the Chung-Hua Institute for Economic Research, with the theme “Implications of Supply Chain Reform for the Future Partnership between Peru and Taiwan”, spoke about both economies through the CPTPP, the economic importance : the tariff treatment of exports from Peru to Taiwan, the advantages of the reduction of tariff barriers, food processing, textiles and machinery. He also mentioned the importance of cooperation in the digital technology supply chain to create a win-win situation for both economies and emphasized recommendations for the future Peru-Taiwan alliance.

Ms. Francisca Yu-Tsz Chang, Representative of the Taipei Economic and Cultural Office in Peru, concluded by highlighting that both economies are highly complementary, Peru possesses immense natural resources, varied agricultural and fishing products. While Taiwan has great technological advances that can assist in the creation of productivity in each predominant sector of Peru, that is why there is a lot of space for cooperation in sectors such as food, textiles, fishing, among others.

Peru’s economy is vibrant and full of opportunities, enjoying a surplus in bilateral trade with Taiwan. Taiwan’s accession to the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) is expected to be approved soon so that both Peru and Taiwan benefit from each other. In addition, 95% of export tariffs would be reduced and investment would be stimulated.

Undoubtedly the incorporation of Taiwan into the CPTPP It will offer many advantages for Peru and also for the current members, it will boost the economic growth of the region, in addition to expanding opportunities for cooperation and development. Currently, Taiwan is highly qualified, is willing and ready to be admitted to this economic block, hoping to have the support of Peru and all its members, to achieve its entry into the CPTPP.