CAF and ADEX to foster internationalization of Peruvian products

CAF Development Bank of Latin America and the Peruvian Exporters Association (ADEX) will develop joint technical cooperation activities to promote foreign trade projects, internationalization of companies, creation of business opportunities for domestic products and the identification of foreign investment opportunities for domestic entrepreneurship.

These were some of the agreements set out in the memorandum of understanding concluded by CAF executive president Luis Carranza Ugarte and the president of ADEX, Juan Varilias Velasquez, signed at the CAF offices in Lima.

This initiative will provide technical and financial assistance to develop and execute projects, in order to secure access for Peruvian products to new markets and to consolidate their presence in existing niches, through credit operations and multiple financial services.

The executive president of CAF argued that Latin American countries should have a long-term vision for sustainable and inclusive growth, which requires forging a productivity pact, diversifying their economy and innovating in most market sectors.

“It is essential to promote activities that help diversify Peru’s economy, through innovation and internationalization of companies, to increase exports of value-added products or services to new markets, and thus ensure sustainable growth of MSMEs. To this end, we need strategic partners and, in this particular case, ADEX is the natural partner to start working on this productivity pact in the country,” said Carranza.

Furthermore, the president of ADEX explained that internationalization of MSMEs and their inclusion in global value chains is a commitment that his association will reinforce with CAF.

“We firmly believe that working harder in the regions, within companies and the business services ecosystem will result in the diversification of our exportable supply, job creation and the development of our country. We want our partners to tap into new markets, so we are more than pleased about this partnership with CAF. We have a Center for Global Economy and Business Research (CIEN) and the ADT, the trading intelligence system, which produces export and import figures, which is an important tool for exporters to learn a bit more about their target markets. All this will help us revive our sector,” he said.