Philippines, Peru vow to deepen trade ties

The Philippines and Peru have committed to deepen their relations, especially when it comes to trade.

On Tuesday, President Ferdinand "Bongbong" Marcos Jr. accepted the credentials of Peruvian Ambassador Cecilia Zunilda Galarreta Bazan in a ceremony held at the Malacañang Palace.

Marcos pointed out that the two countries should collaborate to face different challenges as the world recovers from the effects of the COVID-19 pandemic.

“It is imperative that we all work together. No matter how big or rich or strong a country is, I don’t think there is a single country that can manage this by themselves,” the President said in a press statement issued Wednesday.

"Simply because of the way we operate, the way we work, the way we live. We are dependent on many things outside of our own country. So, we should really… I think that’s one of the lessons that COVID taught us," he added. 

Bazan, for her part, said the Philippines has been a model for Peru, especially when it comes to exporting products.

“Also, the Philippines is a very important trade partner for us in the region. We are really looking forward to deepening that relationship,” she said.

“You’re a model for us in the sense that you are already exporting added value products that is something that… We are mostly exporting raw materials," she added.

Bazan said that Peru has a very important agribusiness sector and has been “able to introduce grapes, and avocado and we would love to bring back our grapes to the Philippines.”

The Presidential Communications Office said the Philippines’ exports to Peru in 2022 has reached US$36.3 million while its imports were recorded at US$2.9 million.

Its main exports to the South American country include electronic products, tuna, other manufactures, non-metallic mineral manufactures, and chemicals.

Meanwhile, metalliferous ores and metal scrap, non-ferrous metal, feeding stuff for animals, metal products, articles of apparel and accessories are the country’s main imports from Peru. — Anna Felicia Bajo/RSJ, GMA Integrated News