Increasing Power of Peru is a Big Opportunity to Turkey

Peru creates a good opportunity for Turkey in terms of commercial and investing activities. According to the 2019 data provided by American Reputation Management Institution, Peru is the most reputable country of Latin America. Actually, it can be said that this is an expected development considering the development of Peru over the years.

Over the last two decades, Peru has tripled its low gross domestic product by maintaining the low inflation rates, reducing the national debt and keeping the country’s risk level below the regional average. These advances were achieved thanks to a macroeconomic policy that increases exports, investment incentives and access to new markets. The last economic successes of Peru are highly positive for all the world, especially for Turkey.

Last year, trade volume between Peru and Turkey reached 232 million dollars with an increase of 31,3 percent. Besides, the exports from Peru to Turkey in creased by 8,4 percent in the past five years. Quinoa, artichokes, tara powder and beans are some of the lucky agricultural products of Peru in Turkish market. Considering that Peruvian products are of high quality and value added and Turkish market create a strong effect in Western Europe, it can be seen that this represents a big opportunity to increase and strength the commercial relations between both countries.