Country Profile
From The Report: Peru 2014
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Once known as a country blighted by economic and social upheaval, Peru has now experienced more than two decades of progress. Political and economic reforms implemented in the 1990s and reinforced in the 2000s have resulted in stability and a generally liberalised economy. The fourth-most-populous country in Latin America, Peru enjoys a rich heritage shaped by both Amerindian and Hispanic cultures. Peru is a member of the Pacific Alliance, the Andean Community and the Asia-Pacific Economic Cooperation, and recently signed a number of important FTAs with the US, China and the EU. With ongoing modernisation and a relatively democratic and pluralist political system, reducing corruption, social inequality and inefficient government bureaucracy are high on the political agenda.

This chapter contains interviews with President Ollanta Humala; Lord Green, Minister of State for the UK Trade and Investment; and José Manuel García-Margallo, Spanish Foreign Minister.

Articles from this Chapter

Overview

Stability and progress: Balancing economic growth with an emphasis on social inclusion
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Once known as a country blighted by economic and social upheaval, Peru has now experienced more than two decades of relative stability and progress, increasingly so since the turn of the millennium. That strong economic progress has occurred during a period of high commodity prices is no coincidence considering the rich mineral and energy resources found high in the Andes Mountains and deep in the Amazonian jungle. While Peru’s commodities industries may have aided its economic growth, they have…

Interview

OBG talks to President Ollanta Moisés Humala Tasso
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Interview:President Ollanta Moisés Humala Tasso How can the impact of the informal economy, which reduces tax revenue and deprives workers of their rights, be minimised? OLLANTA HUMALA MOISES HUMALA TASSO: The informal economy is a problem of immense complexity and magnitude. As such, reducing the levels of informality demands various public policy changes that go beyond simple labour laws, social security and taxes. To this end, the government has prepared a number of strategies to encourage…

Interview

OBG talks to President Ollanta Moisés Humala Tasso
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Interview:President Ollanta Moisés Humala Tasso How can the impact of the informal economy, which reduces tax revenue and deprives workers of their rights, be minimised? OLLANTA HUMALA MOISES HUMALA TASSO: The informal economy is a problem of immense complexity and magnitude. As such, reducing the levels of informality demands various public policy changes that go beyond simple labour laws, social security and taxes. To this end, the government has prepared a number of strategies to encourage…

Viewpoint

Lord Green, Minister of State for UK Trade and Investment, on Peru’s attractiveness as a trade and investment destination
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The UK enjoys a strong bilateral trading relationship with Peru, which continues to flourish. This dynamic and robust economy, the fastest growing in South America over the last 10 years (averaging over 6% since 2002), is becoming an exciting key market for British companies to do business in. The UK is already a major investor in Peru, with some 20 UK FTSE 100 companies currently having direct investments there, while UK exports have increased by almost 50% since 2005. Nonetheless, we could and…

Viewpoint

José Manuel García-Margallo, Spanish Foreign Minister, on growing opportunities in Latin American markets
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Latin America is a region on the rise. Politically stable, economically prosperous and with a strong vision, countries like Chile, Mexico, Colombia and Peru are growing at enviable rates, setting themselves apart from the regions’ previous era, which came to be called “the lost decade”. While the continent keeps testing integration formulas, including the Community of Latin American and Caribbean States (Comunidad de Estados Latinoamericanos y Caribeños, CELAC), Union of South American Nations…

Analysis

Outward bound: Foreign policy centres on increasing trade ties and economic integration
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Though incoming President Ollanta Humala was initially feared by some within the business community, owing to his close ties to Former Venezuelan President Hugo Chávez, foreign policy under the current administration has been largely a continuation of established procedure. Indeed, while Humala has sought to focus on improving relations with neighbours within the Americas through trips to Brazil, Colombia and the US, he has also made visits to Peru’s major trading partners in Asia such as China,…

Overview

One of a kind: History, culture and natural resources offer valuable long-term assets
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Over the past decade Peru has seen a period of transformative growth, which has effectively positioned it as one of the leading economic performers in Latin America and the world. This period of exponential growth has for the most part spread throughout the country, leading to unprecedented development in urban centres, while at the same time drastically reducing rates of poverty in rural areas. Although the 1980s and 1990s were marred by political and social volatility, economic and political reforms…