28-05-2012 11:20 Peru
Peruvian investments in Brazil to reach US$ 1bln in 2012
Lima (ANDINA). Peru's investments in Brazil will amount to US$ 1 billion dollars with food and soft drinks companies which already invest in Rio de Janeiro, Bahia and Manaus, Brazilian ambassador to Peru Carlos Lazary said.
Lazary noted that Brazilian investments in Peru will rise 20 percent and now all major companies are involved, not only those in construction sector, but in petrochemical sector.
He added that Peru has an enviable business climate and is ranked among the best ones in Latin America, and also has a good business condition which is why Brazilian entrepreneurs feel confident to invest in the country.
Furthermore, Lazary explained that in 2010 trade between Peru and Brazil stood at US$ 3 billion, from which US$ 1 billion belong to Peru and US$ 2 billion to Brazil.
However, Peruvian exports to Brazil increase more than Brazilian exports to Peru.
"Last year trade grew 24 percent to US$ 3.6 billion and we believe that this year it will climb above 20 percent," he said.