The president of Confederation of Employers and Industries of Spain (CEOE), Antonio Garamendi; the Secretary of State for Commerce, Xiana Méndez, and the President of the Chamber of Commerce of Spain, José Luis Bonet, participated in the opening of a business meeting with the President of Peru, Martín Vizcarra, who stressed, before more than 400 businessmen of both countries, the reforms that are being carried out and the improvement of the competitiveness of the companies as key factors for the economic development of the country.

Accompanied the Peruvian president a large delegation of authorities, formed by the ministers of Economy and Finance, Carlos Oliva; of Transport and Communications, Edmer Trujillo; and Culture, Claudio de la Puente; Chancellor and Minister of Foreign Affairs, Néstor Popolizio; the ambassadors of both countries; and representatives of the main companies and financial entities of Peru. The business meeting was organized by the Secretary of State for Trade, CEOE and the Chamber of Commerce of Spain, in collaboration with the Embassy of Peru in Spain and its Commercial Office (OCEX).

Previously, a working breakfast was held by the President of Peru with the presidents and CEOs of the main Spanish companies with interests in the Latin American country, which was also attended, in addition to those already mentioned, the Secretary of State for International Cooperation and for Ibero-America and the Caribbean, Juan Pablo de Laiglesia. Among the representatives of Spanish companies, include Acciona, Ayesa, Cintra (Ferrovial Group), Duro Felguera, Enagás, Notary Public, Eulen, Everis, Globalia Corporación Empresarial, Grupo ACS, FCC Group, INECO, Mapfre, Naturgy, Navantia, Repsol, Sacyr, Técnicas Reunidas, Telefónica, Torrescámara and Typsa.

During the day the key elements of the economic policy of the Latin American country were discussed, as well as the development of infrastructure projects in Peru and the importance of foreign investment. In the closing ceremony, the president of CEOE International, Marta Blanco; the vice president of the National Confederation of Private Business Institutions (CONFIEP), Marco Antonio Zaldívar, and the president of inPERU, Francis Stenning.


The president of Peru, Martín Vizcarra, stressed to develop concrete actions to improve the competitiveness of companies, and for this, suggested to provide the country with the necessary infrastructures, strengthen human capital, improve health and education, promote innovation, develop technologies and facilitate the conditions of foreign trade of goods and services, among other factors.

The President explained that he wants to make Peru remain an attractive destination for tourists, a mission in which foreign investors play a very important role. Vizcarra expressed his intention to streamline bureaucratic procedures in project management and highlighted key investment sectors in the country such as telecommunications or financial services. In this regard, he said that what he seeks mainly from foreign investment is for entrepreneurs to obtain profitability from their operations and contribute at the same time to the economic and social development of Peru.

The president of CEOE, Antonio Garamendi, highlighted that Spanish entrepreneurs value very positively the measures adopted by the current Peruvian government and spoke of an improvement in the competitiveness of the country’s companies, which is intended to be improved through further development of the capital market and better access of SMEs to bank financing, the improvement of the business environment and the diversification of the country’s economic structure.

He also praised the entry into force of the trade agreement between the EU and Peru in 2013 to boost bilateral trade and economic cooperation; and insisted on the need to unblock the negotiations of the agreement to avoid double taxation, since it considers it crucial to intensify the investments of Spanish companies in Peru.

Bilateral relations

The Secretary of State for Commerce, Xiana Bértolo, stressed that Spain has consolidated over time as the first investor in Peru, this being the fifth Latin American destination of Spanish investments abroad. He also assured that the presence of Spanish companies in the main Peruvian productive sectors has turned them in many cases into key economic agents of strategic importance for Peru, integrating fully into the society and economy of the country, becoming true Peruvian companies. that contribute to the development of the country and the welfare of the Peruvian society as a whole.

According to the president of the Chamber of Spain, José Luis Bonet, “the consolidation of the opening policies has allowed Peru to gradually integrate into the international markets of goods, services and foreign investments, which has favored a period of prosperity without precedents that have been going on for more than a decade.”

He also highlighted the favorable expectations for the institutional strengthening that the Government of President Vizcarra has brought, “whose economic project guides Peru through the path of stability, growth and well-being of Peruvians”.

Economic policy and infrastructures

The Minister of Economy and Finance, Carlos Oliva, highlighted the macroeconomic stability of Peru and the opening of its economy thanks to private investment. In this regard, he mentioned that the average annual growth of GDP over the past twenty years has remained around 5% and stressed that Peru has free trade agreements with most countries, including Spain, which contributes to the development of the region.

Oliva insisted that there is a sustained work on the new competitiveness policy, improving productivity, institutionality and preparing a National Infrastructure Plan that promotes complementary investments in certain areas of the country.

The Minister of Transport and Communications, Edmer Trujillo, reported two important projects, which consist of the start-up of the train from Lima to Ica, since it is one of the routes with the highest passenger traffic; and the “third group of airports” project, aimed at modernizing and improving the eight airports in the interior of the country.

He also highlighted five road projects with an investment of over 6,000 million dollars. As regards digital connectivity, Trujillo spoke about developing the national fiber optic backbone network and informed that there are already twenty-one broadband concession projects underway and three new projects to connect high-speed internet to twenty-four regions of the country.


The president of CEOE International, Marta Blanco, closed the day; the vice president of the National Confederation of Private Business Institutions (CONFIEP), Marco Antonio Zaldívar, and the president of inPERU, Francis Stenning; who highlighted the commitment of the Peruvian government to diversify its economy.

They also bet for a better use of the opportunities offered by the agreement between the EU and Peru and for resuming the negotiations in April of the agreement to avoid double taxation. Finally, they emphasized the improvement of competitiveness, the need to simplify administrative procedures and develop the local capital market. They spoke of an optimistic future for Peru and insisted on its great potential to continue growing.

Source: CEOE