Peru’s Minister of Foreign Affairs Advocates for Increased Agricultural Exports to Saudi Arabia
Elmer Chailly Salcedo, the Minister of Foreign Affairs of the Republic of Peru, underscored his country’s intent to enhance its exports of agricultural products and food industries to Saudi Arabia. This statement was made during a meeting with Imad bin Sadad Al-Fakhri, a member of the Saudi Chambers Council, held today at the council’s headquarters. The event was graced by the presence of Jorge Montrose Cornejo, Peru’s Minister of Energy and Mines, the Peruvian ambassador to Saudi Arabia, Ricardo Silva Santisteban, along with several business leaders from both nations.
Minister Chailly highlighted that Peru offers over 25 distinct agricultural products suitable for import. He pointed out that the total exports from South America to Saudi Arabia are valued at approximately $3.8 billion, with a modest share of only $70 million attributable to Peru. He further encouraged Saudi investors to participate in an upcoming agricultural products exhibition scheduled for September.
During the meeting, Al-Fakhri shared insights about the dynamic developments within the Saudi economy, focusing on the Kingdom’s strategic direction aimed at strengthening its economic relations with various countries, including Peru. Al-Fakhri emphasized Peru’s competitive advantages and investment opportunities, which present an attractive proposition for Saudi investors.
Al-Fakhri stressed the crucial need to enhance cooperation between the Saudi Chambers Council and its Peruvian counterpart. He proposed the signing of a collaborative agreement and the establishment of a joint business council to facilitate increased exchanges of trade delegations. This would support the organization of economic activities and events to explore potential investment opportunities, particularly in Peru’s robust sectors, including tourism, trade, and agriculture.
Additionally, the Saudi Chambers Council has outlined plans to organize a trade mission to South American countries, including Peru, in the latter half of 2025. This initiative aims to explore burgeoning opportunities, especially given that the current trade exchange between Saudi Arabia and Peru stands at merely 205 million Saudi Riyals. This figure underscores the considerable untapped commercial and investment potential that exists between the two nations.
In summary, both the Peruvian minister and the Saudi representatives acknowledged the existing gaps in trade and cooperation, recognizing that there is significant scope for growth. As global trade dynamics continually evolve, both countries are looking to leverage their unique strengths in pursuit of mutual economic benefit. The dialogue initiated during this meeting marks a pivotal step towards fostering deeper ties and expanding economic horizons that could prove beneficial for both nations.
As the initiatives unfold, they will likely pave the way for greater bilateral trade agreements and collaborations in the agricultural sector, promising benefits for not only the countries involved but also their respective markets and economies. The strategic partnership holds promise for enriching both economies and contributing to global food security through enhanced agricultural exchanges.
