World Economic Forum Comes To Lima


As he inaugurated the 8th World Economic Forum on Latin America the president of Peru, Ollanta Humala, advocated the regional economic growth while respecting social inclusion. He was joined by the Presidents of Mexico Enrique Peña Nieto and Panamá, Ricardo Martinelli. Humala stated in front of over 600 participants that “Today we also need to understand that in order to achieve development it’s needed to grow economically and to know how to distribute this growth, which we call inclusion”

President Humala was pleased to have his country be the host of “one of the most prestigious regional meetings at international level,” to Peruvian leader “it is a clear demonstration of a growing recognition for [Peruvian] economy and culture.”

President Humala, made a brief review of his country’s policies that has implemented in order to maintain and strengthen economic growth of his country and rekindle the distribution of wealth so that poverty and malnutrition would be reduced in rural areas of Peru. Lima “has gone from a public experience of the 1970s to the other side” in the 1990 and its current policies are being shaped according to both experiences.” The economic reforms of the last decade have made possible for Peruvian government to triple the growth of the Gross Domestic Product, last year there was a 6 percent economic growth, and the Andean nation has one of the lowest inflation rates in the region. According to Humala “during the last eight years, Peru has elevated out poverty more than 7.5 million of Peruvians, 25 percent of the total population, Peru is striving to establish itself as a country with legal security, which comply with all signed treaties and respects the branches of government.” [1]

In the second of the World Economic Forum, the Ministers of economy of the Pacific Alliance member countries (Colombia, Mexico, Peru, and Chile) will meet for the first time in Lima. [2]

Peru and Panama continue to promote bilateral ties

In the morning of April 24th, Peruvian President, Ollanta Humala Tasso, held a meeting with the President of the Republic of Panama, Ricardo Martinelli, who arrived in Lima to participate in the World Economic Forum on Latin America 2013. After an official welcoming ceremony, both presidents had a bilateral meeting that lasted more than one hour, and discussed projects of mutual interest including bilateral commerce and defense cooperation. Panama will be hosting the World Economic Forum of 2014 and is an observing member of the Pacific Alliance. Peru is an observing member country of the Central American Integration System (SICA), in 2012. In May 25th, 2011, Panama and Peru have signed a bilateral Free Trade Agreement.

President Humala was joined in this meeting by the Minister of Affairs Rafael Roncaglio; Education, Patricia Salas; and Trade and Tourism, Jose Luis Silva. President of Panama was joined in the meeting by the Minister of Canal administration, Roberto Roy; Education, Lucy Molinar Rose; the Ambassador of Panama to Lima, Carlos Luis Linares Brin; and Panamanian presidential adviser, Larry E. Maduro.

Peru and Panama have inaugurated last year the Panama – Peru Chamber of Commerce, led by Juan Francisco Pardini, the founder of Pardini and Associates. This organization aims to increase bilateral trade relations and promote both countries’ economies and business environment.

Bilateral trade in 2011 was 24 percent higher than the average of the last two previous years. In this year, Peruvian exports reached USD 333.4 million, even though they were mostly commodities such as petroleum and natural gas, as well as chemical, mechanical and agricultural. On the other hand, Panama exported in 2011 raw materials and intermediate products with a value of USD 344.7 million.

Panamanian investment in Peru has reached more than USD 600 million mining and agricultural projects, this accomplishment was done thanks to the leadership and support of Peru – Panama Chamber of Commerce President Hugo Sologuren. According to Mr. Sologuren “Panama is interested to become a leader in financial services and international trade in Latin America, Peruvian economy and business may benefit from their experience in this sector.” [3] Panama and Peru are expected to further increase the volume of their bilateral trade, continue to share valuable experience in improving tourism sector and strengthen their collaboration in the war against money laundering and organized crime.





Peter Tase

Peter Tase is a freelance writer and journalist of International Relations, Latin American and Southern Caucasus current affairs. He is the author of America's first book published on the historical and archeological treasures of the Autonomous Republic of Nakhchivan (Republic of Azerbaijan); has authored and published four books on the Foreign Policy and current economic – political events of the Government of Azerbaijan. Tase has written about International Relations for Eurasia Review Journal since June 2012.

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