Peru and Japan Forge Stronger Trade Relations, Eyeing Diversification

Peru and Japan are actively collaborating to enhance thier ⁤bilateral trade relationship, with a particular focus on diversifying Peru’s export offerings.⁤ The Exporters ‍Association (ADEX) highlighted ongoing efforts ⁢between authorities and the private ⁤sector to achieve this goal.

Peruvian shipments to Japan in 2024 reached $3.334 billion, marking a important 44% increase compared to the $2.315 billion recorded in 2023. This growth solidifies Japan’s position as the fifth-largest destination for Peruvian exports. According to Diego Llosa Velásquez, central manager of exports‍ at ADEX, this surge underscores the importance of the Japanese market for Peru.

JETRO’s Role and Key Export Sectors

During a meeting with the Japan Foreign Trade Association (JETRO), Tatsuya Ishida, ⁤its general director, engaged in discussions about the current state of trade. llosa Velásquez noted that traditional sectors dominate Peruvian exports to Japan, accounting for 94.5% ⁤of⁣ the total.

Specifically, mining exports amounted to $2 billion, showing a 30.2% increase,⁢ while hydrocarbon exports reached $976 million, a significant 111.67% rise. Llosa Velásquez emphasized, Japan is the third largest Peruvian copper buyer and the main destination of hydrocarbons.

Addressing‍ Challenges ⁤and Implementing Diversification Strategies

Despite the overall positive trend, non-traditional exports ⁤experienced⁣ an 8.1% contraction, representing onyl 5.5% of total⁢ exports in 2024. This decline was primarily due to reduced⁢ exports of pota‍ (-28%) and avocados (-6.4%), two of Peru’s key non-traditional products.

Currently,⁢ Peru exports 436 different items to Japan, but there is considerable potential for expanding into higher value-added products.

Key Strategies for Growth

To address these challenges, representatives⁢ from both countries are collaborating on strategies to facilitate bilateral trade and diversify Peru’s agricultural and manufacturing exports. These strategies also aim to attract greater Japanese investment in strategic sectors such as mining, agribusiness, and energy.

A key focus is on enhancing value-added exports. It must also strengthen items with greater added value, such as agribusiness, clothing,⁢ non -traditional fishing and aquaculture, promoting the transformation of ⁣raw materials ⁤into products ready for the Japanese consumer, and establishing alliances with Japanese‍ companies and distributors, stated a guild representative.

Peru’s Standing in the Japanese Market

Peru holds a strong position as the second-largest supplier of avocados to Japan, accounting for 20% of Japan’s total avocado imports.

We hope that the ⁢negotiations of the health protocols advance more quickly to achieve greater access of agro -exports in that destination, as is the case of the blueberry, officials stated, highlighting the importance of streamlined regulatory processes.

Opportunities at Expo 2025⁤ osaka-Kansai

Tatsuya Ishida, the ⁢general director of JETRO, emphasized the significance of Peru’s participation in the Expo 2025 de Osaka-Kansai, scheduled from April 13 to October 13, 2025. The expo presents an excellent prospect to showcase high-potential Peruvian products such as alpaca ‍clothing, superfoods (quinoa and chia), cocoa, coffee,‍ grapes,‍ and pisco.

Other notable attendees included José Carlos Schroth, director of ADEX; Julio César Rejas, ⁣representative of JETRO Lima; Shumpei Sato, representative of JETRO‍ Tokyo; ‍ Gabriel Arrieta, Head of Economic Studies ⁤and Commercial Intelligence of ADEX; and Lizbeth Pumasunco, head of ADEX Consulting.

Additional Insights into Peru-Japan Trade

• Japan is Peru’s third-largest ⁢commercial partner in Asia and seventh worldwide.
• Regarding Direct Foreign Investment (FDI) in peru, Japan ranks 16th, accounting for 0.8% of the total. Its presence is more significant in specific sectors like mining ‍and commerce, where it holds the eighth position.

Key Figures in Peru-Japan Trade