Diplomatist Magazine DIplomatist September 2018 | Page 39

COUNTRY REPORT
INTERVIEW
R
LUIS MIGUEL CABELLO ARROYO
ECONOMIC AND COMMERCIAL COUNSELOR,
EMBASSY OF PERU, INDIA
The economies of both India and Peru stand to
benefi t from the trade agreement which is in the
fi nal stages of discussion, says H.E. Luis Arroyo,
to Jeethu Cherian, Sr. Editor of Extraordinary and
Plenipotentiary Diplomatist. The Economic and
Commercial Counselor at the Embassy of Peru in
India adds that many big Indian importers have
shown deep interest in staple Peruvian ingredients s
given the international fame which Peruvian
gastronomy has acquired in the recent years.
Please tell us about the present state of bilateral
trade relations between India and Peru?
The trade balance (X+I) between Peru and India has
grown substantially in 2016-2017, showing an increase of
62.4 percent, wherein the Peruvian import of Indian products
has grown 1.96 percent, and the Peruvian export to India
112.5 percent in the same period. In this same period, the
trade balance between Peru and India has shown a surplus of
$1,184 million of our exports towards India, a fi gure which
represents a peak in our national exports in the last fi ve years.
The fi gures from the fi rst few months of the current
year have been promising. With respect to the trade balance
between the two countries, the current trends show that Peru
maintains a surplus in its favour ($737 million) and the total
exports in Jan-June have increased almost 54 percent, as
compared to the export values for the same period last year.
Exports Peru to India (FOB US$ million)
Jan to May 2017
713
Jan to May 2018
1,099
Growth
54%
Source: ADEXDATATRADE
In the fi rst half of the year, the Peruvian exports to India
in the mining sector have increased almost 28 percent, the
principle product favouring this growth being gold. In the fi rst
quarter of 2018, Peru exported gold of almost $105 billion
in value, whereas in the same period in 2017, the Peruvian
export of the mineral had exceeded $685 million. The growth
in the last year has thus been 53.9 percent.
Moreover, it must be highlighted that since September last
year, the Peruvian avocadoes have received great acclamation
and acceptance in the Indian market. At fi rst, the shipments
were sent by air; in July this year the fi rst maritime container
of avocadoes was received and a second container is expected
to reach the Indian shore by September.
Could you please elaborate on the status of the
FTA between India and Peru? With regard to the
discussions that are planned for September 2018, do
you think there are any diffi culties in taking forward
the negotiations between India and Peru?
The negotiations for the trade agreement between Peru
and India are already in the fi nal stages. The third round of
negotiations will take place in the fi rst week of December
Extraordinary and Plenipotentiary Diplomatist • Vol 6 • Issue 9 • September 2018, Noida • 39