Peru is gearing up to host the Asia-Pacific Economic Cooperation (APEC) forum Leaders’ Summit for the third time, with the event set to take place in November this year. This summit is expected to have a significant positive impact on the country’s economy.
Amidst the preparations, it has been revealed that between 2016 and 2021, Peru has received a total of US$2.823 million in APEC funds, which have been allocated to finance 36 projects across various key sectors.
These projects were presented in Working Groups under the Economic and Technical Cooperation Committee, focusing on areas such as Small and Medium-sized Enterprises, Science, Technology, and Innovation, Food safety, Health, Oceans and Fishing, Transportation, Group of Experts on Illegal Logging and Associated Trade, and Women and Economy.
Additionally, it has been reported that Peru’s exports to the APEC zone have amounted to approximately US$24.994 billion, showcasing the country’s significant trade ties with the region.
On the other hand, imports from this bloc have reached US$30.479 billion, indicating a dynamic flow of goods and services between Peru and APEC member economies.
As Peru prepares to host the APEC forum once again, the infusion of APEC funds into various projects highlights the collaborative efforts aimed at fostering economic development, innovation, and regional cooperation. This influx of funds and trade activity with the APEC zone are poised to further propel Peru’s economic growth and strengthen its position within the Asia-Pacific region.
