A South African business delegation last month visited the Lima-based Peruvian Institute of Mining Engineers to learn about the various opportunities available in the sector, and possible opportunities that could still be explored.

“South African business people in the mining sector have been urged to capitalise on the vast range of opportunities that currently exist in Peru,” says South African Ambassador Elsa Dry, who led the delegation.

Peruvian Institute of Mining Engineers director Gonzales Galindor informed the delegation that Peru is a country replete with opportunities in the mining and construction sectors, which South African business could tap into.

“The fact that Peru’s economy is growing at such a rapid pace, [but] that the country is lagging behind in terms of infrastructure development, is enough indication of the need for investment in the country,” highlighted Galindor.

Peru has experienced steady economic growth of over 5% in the last three years and is ranked third on the list of highly globalised countries in South America, after Chile and Uruguay, he adds.

The country’s mining imports have undergone a 56% increase from 2012 to 2013, noted Galindor.

He added that capital goods and con-struction material are high on Peru’s list of requirements because of all the construction that is happening in the country.

Galindor also mentioned that Peru is one of the lowest-risk countries to do business in, with investor-friendly laws.

Meanwhile Dry encourages South African business executives to use the services and support available through the South African Embassy to connect them with businesses in Peru.

“I hope the information acquired at the Peruvian Institute of Mining Engineers can be used as a base for businesses to establish their products in this vast market to ensure that trade between South Africa and Peru is increased,” she says.

Dry, together with the officials from the Department of Trade and Industry, met with the Ministry of Foreign Trade and Tourism to explore other areas of possible collaboration and engagement between the two countries in terms of trade and investment opportunities.