Peru 2019Nov 07, 2019
Regaining strength on the global stage
For more than a decade, Peru distinguished itself as one of the fastest-growing economies in Latin America as it boasted an average annual gross domestic product growth of 6.1 percent from 2002 to 2013. However, from 2014 to 2017, its GDP growth slowed to an average of 3 percent, mainly because of a slump in global commodity prices, particularly copper, which is Peru's leading export commodity. Realizing it had to reduce the country's dependency on the mining industry, historically the main pillar of the economy, the Peruvian government sought investments into other key industries, such as manufacturing, energy, tourism, nontraditional agro-exports and textiles. Such products have started gaining a larger foothold in Japan.
Peru 2019 / AutomotiveNov 07, 2019
Toyota del Peru: 27 years on top
Toyota has been in Peru for 52 years and has become the preferred car brand in the country. Over the last 27 years, despite the entry of other multinational automotive brands, it has maintained its dominance in the country by providing high performance gasoline-powered m...
Peru 2019 / Machinery & Heavy EquipmentNov 07, 2019
The Komatsu way in Latin America
Recognizing long-term prospects in Peru, two Japanese global giants - Komatsu Ltd. and Mitsui & Co. Ltd. - formed a partnership to offer heavy machinery and services to the mining and construction industries in the country. Overseen by its headquarters in neighboring ...
Perupetro looks to Asian companies for partners
Peru's history as an oil producer goes back to the late 19th century, when it drilled its first well in the north of the country more than 150 years ago. Peru has significant hydrocarbon potential areas for development, specifically in Marañon, Ucayali and offshore b...
Peru 2019 / Economic DevelopmentNov 07, 2019
Peruvian-Japanese Association: 120 years of friendship
Established in 1917, the Asociacion Peruano-Japonesa (APJ) or Peruvian-Japanese Association promotes cultural and educational exchanges between Peru and Japan, which have a shared history that goes back to the arrival of the first Japanese immigrants in the late 1890s. ...
Peru 2019 / Fashion & ApparelNov 07, 2019
Inca Tops: Committed to sustainable fashion
Inca Tops is making another kind of statement through its program to revive the black alpaca as a source for its yarns. Already renowned around the world for its rich tradition, Peru's textile industry is experiencing a renaissance as a cultural icon and as a sustaina...