Peru’s Foreign Minister Highlights US$2.5 Billion Trade Exchange With UAE To Strengthen Ties

Elmer Schialer Salcedo, the Foreign Minister of Peru, highlighted the successful collaboration between Peru and the UAE. He noted that their partnership serves as a model for expanding cooperation in key sectors. This relationship began in the 1990s and has grown significantly, marked by the opening of Peru’s Consulate General in Dubai in 2010 and the recent inauguration of its Embassy in Abu Dhabi.

The annual trade volume between Peru and the UAE has now reached around US$2.5 billion. This growth reflects the dedicated efforts of entrepreneurs from both countries. The presence of Emirati companies in Peru is robust, showcasing mutual commitment to strengthening ties for shared benefits.

Minister Salcedo emphasised the need for a stable legal framework to foster a favourable environment for businesspeople and investors from both nations. Transparent regulations are crucial to ensuring stability and equal opportunities for all parties involved.

He also spoke about cultural connections between Peru and the UAE, noting that Peruvian culture, influenced by Spanish heritage, shares elements with ancient Arab civilisation. This is evident in many Arabic-origin words found in Spanish. Such cultural commonalities enhance intellectual and cultural understanding between the two countries.

Regarding science and technology cooperation, Salcedo praised the UAE's global standing in academic research, especially in artificial intelligence. Peru is eager to collaborate with Emirati institutions to bring academic excellence to its own educational landscape.

Peru holds significant potential in renewable energy production, particularly wind and solar power. The minister expressed hope for deeper collaboration with the UAE, home to IRENA's headquarters, to utilise Emirati expertise in developing clean energy projects.

In his closing remarks, Foreign Minister Salcedo expressed gratitude towards the UAE leadership, government, and people. He reiterated Peru's strong commitment to advancing bilateral relations further. This dedication aims at fostering progress, prosperity, and development across areas of mutual interest.

With inputs from WAM