APEC 2024: Discover everything about the Zona Perú at this event!

Peru once again hosted APEC in 2024, following its previous turns as host in 2008 and 2016.

The Asia-Pacific Economic Cooperation (APEC) Summit in Peru was one of the year's most significant economic events, both for the country and the Asia-Pacific region. It took place from November 9 to 16.

This forum brought together 21 global economies to promote inclusive and sustainable economic growth, as well as foster cooperation among its members. Hosting APEC in Peru provided the country with a valuable opportunity to strengthen its position as a key player on the global stage and attract foreign direct investment.

ZONA PERÚ

Our regions united in one place! Zona Perú, launched during APEC Economic Leaders’ Week by PROMPERÚ and the Ministry of Foreign Trade and Tourism (MINCETUR), showcased the country’s rich cultural heritage to international delegations. This vibrant display took center stage at the Lima Convention Center (LCC) and the esplanade of the Ministry of Culture.

What is shown in ZONA PERÚ?

From November 10 to 16, the activations area welcomed visitors starting at 9 a.m. Attendees embarked on a multi-sensory journey, indulging in tastings of premium Peruvian coffee, Pisco, and high-quality chocolate.

Of course, iconic dishes like Cebiche and causa limeña were proudly showcased, alongside Peru’s most renowned superfoods, such as quinoa and maca. These ingredients offered attendees a delicious connection to the rich flavors and ancestral traditions of Peru.

The event also featured captivating performances of traditional dances, including the marinera norteña and the Diablada puneña, complemented by the display of a stunning Ayacucho retable.

Sustainability and tradition were central to Zona Perú. This was evident in the exclusive kits presented to ministerial authorities, which included gold-leaf artwork depicting scenes from the Paucartambo and Yunza festivities.

Source: PROMPERÚ;

Decentralized commitment

APEC Perú 2024 meetings took place across several regions, including Lima, Urubamba (Cusco), Trujillo (La Libertad), Ucayali, and Arequipa.

Lima, the capital, hosted the summit of economic and business leaders from the 21 participating economies. Meanwhile, Trujillo (La Libertad) was the venue for Food Security Week, highlighted by the meeting of the bloc's agriculture ministers.

For the first time, Arequipa hosted the meeting of the Ministers of Women and Trade from the 21 economies, where they evaluated measures aimed at promoting the empowerment of women in foreign trade.

The meeting of the Ministers of Tourism took place in Urubamba (Cusco), while in Ucayali, the ministers of the small and micro-enterprise group gathered.

Source: SHUTTERSTOCK

Objectives

Created in November 1989 to facilitate trade, investment and economic cooperation among the economies of the Asia-Pacific, considered the most dynamic region in the world, APEC has 21 members, including countries of great economic importance such as the United States, China, Japan, Australia, Mexico and Canada, as well as Peru, one of the few Latin American countries to be part of the group.

The APEC Vision for 2040 identifies three main pillars: trade and investment, innovation and digitization, and strong, balanced, secure, sustainable, and inclusive growth.

Impact in Peru

Hosting the summit has also had a positive impact on international visibility. By attracting the attention of world leaders and major companies, Peru has positioned itself as a key hub for business and investment in Latin America.

This has allowed sectors such as mining, agribusiness, tourism, and manufacturing to benefit from the interest and business opportunities that arise during the event. Evidence of this can be seen in the following figures:

- According to ComexPerú, since joining APEC in 1998, Peru's trade with member economies has grown by an average of 12 % per year. Additionally, 66 % of Peru's trade in goods is with APEC member economies.

-In 2023, 68.5 % of Peru's national exports were directed to APEC member economies.

-APEC member markets invested a total of USD 9.4 billion in Peru.

-Between 2016 and 2021, Peru received USD 2.823 billion in APEC funds, which were allocated to finance a total of 36 projects.

-As a result of APEC, 14 free trade agreements have been reached, bringing benefits to exports to countries such as Australia, Canada, Chile, China, South Korea, the United States, Japan, Mexico, Thailand, Singapore, and others.

Source: PROMPERÚ;

APEC Ciudadano Perú

In the 2024 edition, the APEC Ciudadano Perú 2024 initiative was launched to bring the Summit closer to society. This included technological and cultural events, presentations at schools and universities, and seminars featuring experts, officials, artists, and academics from the member economies.

Present and future

The APEC Summit in Peru represented a significant opportunity for the Peruvian economy in several ways, as it generated a notable influx of high-profile visitors, including official delegations and business leaders. This boosts the local economy, particularly in sectors such as tourism, hospitality, and commerce.

Thus, Peru's future in APEC looks promising, as it stands as both a diplomatically significant event and a strategic platform that will help the country consolidate its economic growth and strengthen its position in the global economy.