Fernando Zavala: “We are proud to show that Peru is a key model”

Today marks the beginning of the central days of APEC 2024, where representatives from the 21 economies within the bloc gathered at the Grand National Theater to kick off a series of meetings. The day opened with a welcome address by Fernando Zavala, president of the APEC CEO Summit 2024, who underscored Peru’s capacity as host and presented it to the leaders as a “key model of regional integration and economic resilience.” As an example, he cited the various free trade agreements achieved since Peru joined the Asia-Pacific bloc.

He also emphasized Peru’s geopolitical advantages, which have strengthened its mining industry, currently focused on copper. “In 2023, copper exports reached over 23 billion dollars, which is 25 times greater than at the beginning of the century,” he stated.

Fernando Zavala further highlighted that the presence of the port of Chancay will bolster Peru’s geopolitical standing, serving as a bridge between Latin America and Asia.

In his speech, Zavala also pointed out current challenges such as inflation, changes in supply chains, geopolitical tensions, climate change, and technological disruption. “All of this requires coordinated action for sustainable growth and resilience,” he noted. To tackle these challenges, APEC economies must work collaboratively.

For Peru, there remains the added challenge of supporting small entrepreneurs, as the country should aim to foster their growth and transformation.