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OUTREACH
With its ability to create jobs, generate export earnings and boost economic sustainability, trade is becoming a growing priority for an increasing number of developing countries. Nowhere more, perhaps, than in Peru, world mining superpower and leading fishmeal producer.
by Damelys Delgado
lthough more than one-quarter of its 30 million population still lives in poverty, Peru has the fastest growing economy in Latin America, with an annual GDP increase of 5.75 percent over the decade to 2011. Much of this success is down to the countrys great mineral wealth and growing trade with partners such as the United States, China, Brazil and Chile. However, it is not just Perus land that contains treasure, but also its oceans. The country is the largest producer of fishmeal in the world, contributing 30 percent of global production. Peru does not feature at all, however, in the list of top ten fish exporting countries, an anomaly OFID is seeking to correct through a trade finance initiative that is providing support to small and medium enterprises (SMEs) across the fisheries value chain.
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