Message from Ambassadors

2023: 150th Anniversaryof Diplomatic Relations
between Peru and Japan
Roberto SEMINARIO
Ambassador of the Republic of Peru to Japan
H.E. Roberto Seminario was appointed Ambassador to Japan in December 2021. He previously served as Permanent
Representative of the Peruvian Delegation to FAO, FIDA and the PMA, as well as Ambassador to Indonesia, the Democratic
Republic of Timor-Leste, the ASEAN, and Permanent Representative to the ICAO.

150 years RelationshipThis year is particularly important for Peru and Japan.
One hundred and fifty years ago, in August 1873, during
the Meiji Period, both countries formally establisheddiplomatic relations. Two decades later, on April
3rd.1899, the Sakura Maru ship arrived at the Port ofCallao (Peru), with 790 Japanese nationals in search of
better horizons for themselves and their descendants.
This marked the beginning of the intense history ofimmigration which is one of the special features of ournation’s common journey.

During this long period, both countries haveexperienced significant changes. Japan has become,as a result of the efforts and unity of its people, one of
the most advanced economies in the world, forging
ahead in many areas of cutting-edge technology andinnovation. For Peru, Japan is an important partner inthe Asia-Pacific and the second most important Asian
destination for Peruvian exports in 2022 (JanuaryOctober). Japan is also one of the most relevant
sources of investment and cooperation to Peru andboth countries are partners in regional integration
schemes such as APEC and the CPTPP. In addition,
Japan supported Peru’s bid to join the OECD, thus
contributing to Peru’s entering the accession process.
For its part, Peru has solid macroeconomicinstitutions and business-friendly policies that provide
attractive opportunities for Japanese investment. It
should be highlighted to potential Japanese investors
that Peruvian legislation, at the Constitutional level,
does not discriminate between national and foreign
investors. In particular, Peru guarantees legal stability
on taxation, especially regarding income and dividendregulations.

In addition, Peru has a low public debt-to-GDP
ratio, significant international reserves, as well as astringent Central Bank, which is independent and,according to the Peruvian Constitution, controls
monetary policy. GDP is expected to grow 2.7 % in2022 and even though currently there is a slowdown indomestic demand, dynamism is expected to increase
supported by a higher volume of mining exports.

MiningAs the 2021 world’s second-largest producer of copperand zinc as well as Latin America’s second largest
producer of gold, silver, molybdenum, mercury andcadmium, Peru is also an important producer of tin, lead,indium and selenium. The mining sector accounts fornearly 10% of Peru’s GDP, and mineral export revenues
reached USD 27.2 billion in 2021, representing 60% ofPeru’s total exports.

As one of the world’s most important mining
countries, Peru has around two hundred operativemining sites and 43 projects in different stages ofdevelopment worth USD 53 billion. The mining
sector is highly capital-intensive and therefore, thePeruvian government actively welcomes foreigninvestment. As a result, in 2021, investment in themining sector exceeded USD 5.2 billion, surpassing
the forecasted goal. Also, one important factor to noteis that, due to its polymetallic endowment, Peru willplay a relevant role in the global low-carbon economy
as a supplier of minerals needed for electric vehicle
production and environmentally friendly technologies.

Infrastructure
Another relevant sector for Japanese investment is Peru’s
2023.131

production. As a result, it offers the Japanese market awide variety of fresh fruits like asparagus, mango,avocado, mandarin orange as well as organic banana,strawberry, golden berries, and blueberries. In addition,
Peru is a unique source of Super Foods like quinoa,
kiwicha, chía, maca, and sacha inchi as well as organic
olive oil.

Textileinfrastructure. According to the National InfrastructurePlan, there is a USD 110 billion long-term gap, basicallyin the transportation system, sanitation, healthcare,telecommunications and electricity generation sectors. In
order to fill this deficit, Peru is promoting public andprivate investment through various schemes, such as
Public-Private Partnerships (Asociaciones PúblicoPrivadas), Works for Taxes (Obras por Impuestos) andGovernment-to-Government agreements (G2G).

Public-Private Partnerships are implemented
through long-term contracts. The ownership of thedeveloped investments can be maintained, reversed, ortransferred to the State, depending on the nature andscope of the project and the provisions of the respective
contract of concession, operation, maintenance, ormanagement. In the Work for Taxes modality, a privatecompany executes projects prioritized by the nationalgovernment, regional or local government entities,
thus advancing the payment of their income tax.
The Agency for the Promotion of Private
Investment - PROINVERSION, a specialized technicalbody of the Ministry of Economy and Finance, is incharge of promoting private investment through theabovementioned modalities. In its capacity as a private
investment promotion agency, PROINVERSION is incharge of projects of national relevance or those that it
receives at the request of the three levels of Government.
The current project portfolio can be found at https://www.investinperu.pe/.

Agribusiness
Agribusiness is another sector of potential interest forJapanese companies. Peruvian agricultural exports
reached USD $9.2 billion in 2021. Due to its varied
geography, modernization efforts introduced in recent
years and business-friendly legislation, Peru has
quadrupled its production land oriented to export322023.1

On the other hand, the Textile Sector in Peru contributes
0.7% of the national GDP. It comprises the manufacturing
and finishing of fabrics made of Pima and Tangüis cotton,
as well as fine vicuña and alpaca fibers, which haveshown significant growth in recent years and command
high international recognition for their superior quality.
This sector is a potential niche for Japanese clients
looking for suppliers of quality products and shortdelivery times.

Our Future
Peru and Japan, in 2023, will celebrate not only thecommon links that unite their peoples but also thepotential possibilities of the journey ahead. In this regard,
Peru is a reliable partner with an economy that offers
possibilities for investment to Japanese conglomerates, aswell as dynamic small and medium firms. At this momentof post-Covid recovery, new niches of investment andtrade can be found in Peru and the first movers will findthemselves well-positioned, with serious and committed
partners in a secure cycle of growth.

Please be sure that the Embassy of Peru will
welcome all inquiries and our staff will promptly
arrange a meeting in which I personally will be glad
to be your host.
お問い合わせJOI 事業企画部

E-mail: bd@joi.or.jp 、TEL:03-5210-3311

在日ペルー共和国大使館

E-mail: embtokyo@embperujapan.org
TEL: 03-3406-4243