Peru, a unique experience

Peru is one of the most diverse nations in the world. It is a cosmopolitan country with rich traditions, distinctive cuisine, and huge natural resources. It is home to 84 of the planet’s 117 living zones and 12 UNESCO World Heritage Sites. Its borders with Ecuador, Colombia, Brazil, Bolivia, and Chile are shared by Peru, which is located in the western region of South America. Three regions make up its vast territory, which spans more than 1.2 million square kilometers: the Coast, the Highlands, and the Jungle.

The official language in Peru is Spanish. In addition, Peru has more than 70 indigenous languages, including Quechua and Aymara.

Peru has had the fastest-growing economy in Latin America over the past ten years. It boasts the largest silver reserves in the world as well as the biggest gold, lead, and zinc reserves in Latin America.

The coast of Peru is recognized for its marine resources and export-based agricultural industry, which produces important goods including paprika, blueberries, avocados, table grapes, asparagus, and organic bananas. The Amazon basin, on the other hand, is home to large oil and natural gas reserves as well as an abundance of forestry resources.

The Peruvian government is still taking steps to lower bureaucratic hurdles to investment, promote small business formalization, and boost capital investment in infrastructure. The largest economies in the world today, such as the United States, China, and the European Union, all have trade agreements with Peru. Additionally, it belongs to trade alliances like the Pacific Alliance or the Asia-Pacific Economic Cooperation Forum (APEC).

Peru x Taiwan Case Studies [Timeline]

1990: The Taipei Economic and Culture Office in Peru was Established. It promotes trade, technical cooperation, and cultural activities between the two peoples.

2014: 12th Peru-Taiwan Joint Business Council Meeting was held. The top five topics discussed at the conference were:

· Taiwan’s Economic Situation and Investment Climate

· Peru: Macroeconomic Situation and Investment Opportunities

· Sustainable Fishery in Taiwan

· A brief introduction to Taiwan Fisheries

· Peruvian Seafood Offer

2017: St. Malo Wang traditional Alpaca clothing brand, arrived in Taiwan

2019: The first international e-commerce shipment from Peru to Taiwan took place through the website www.books.com.tw.

2020: On October 2nd, Peru sent the first blueberry shipment to Taiwan

2021: Hosted by the Taiwan External Trade Development Council (TAITRA) with the assistance of the Lima Chamber of Commerce (CCL) and Taipei Economic and Cultural Office in Peru; on June 2nd — 3rd, 23 technology firms participated in the 2021 Peru-Taiwan Virtual Business Roundtable meeting business partners in a wide range of sectors. This event reinforced bilateral commercial activities, investigated new business opportunities, and began business relationships creating a win-win situation for both parties.

2022: On May 18–20th, TAITRA accompanied Taiwanese Businesses for the first time in history to Seguritec Peru 2022, displaying their products and services. This event generates immense business possibilities between Taiwan and Peru.

Policies & Agreements

Over two decades ago, one of the first bilateral agreements was signed between the two governments. Signed by their postal service provider, The “Bilateral Agreement Between the Postal Administrations of Peru and Taiwan, Republic of China” entered into force on September 1st, 1998. This agreement aims to implement a regular and irregular exchange of express mail service (EMS) items, including merchandise goods, between Peru and Taiwan. This was the first critical step in bridging two economies.

Another noteworthy agreement is the “Cooperation Agreement,” signed between Taiwan’s Department of Investment Services and Peru’s Prolnversion (the private investment promotion agency of Peru). The parties signed this agreement as they saw the possibility of a powerful synergism between their activities in reaching their common goals. This agreement entered into force on December 19th, 2006. The areas of cooperation of this agreement include the promotion of entrepreneurial cooperation, the supply of information, and the identification of business partners.

The most recently signed agreement is the “Memorandum of Understanding (MOU) between the Taipei Economic and Cultural Office (TECO) in Peru and the National Institute for the Defense of Competition and Protection of Intellectual Property (INDECOPI) of Peru. This agreement further reinforces and strengthens the aforementioned “Cooperation Agreement”. This agreement’s objective is to encourage and promote cooperation in technological development areas, focusing on Public Key Infrastructure (PKI). The scope of this MOU involves:

· Strengthening and cultivating collaborations on PKI technology

· Creating opportunities for exchanging personnel and information on policies, business applications, and legal and technical issues.

· Presenting opportunities for PKI interoperability testing

· Communicating technical opinions regarding technical and management processes

· Exchanging a detailed description of their PKI to each other, spotlighting prominent obstacles and potential solutions.