Dubai Commerce Authority Formulates Peruvian Trade Council for Enhanced Commercial Relationships
In a significant move to boost business relationships between Dubai and Peru, the Dubai Chamber of Commerce has launched the Peruvian Business Council. This new entity is anticipated to foster long-term economic partnerships between businesses in both countries, reflecting a shared interest in enhancing strategic alliances and regional presence.
The current key trade and investment links between the United Arab Emirates (UAE) and Peru are primarily centred around significant investments in Peru’s port infrastructure and growing bilateral trade in goods. The UAE plays an important role as an operator in Peru’s main port facilities, including the Chancay port project, a new deep-water port attracting substantial investment estimated at about $1.3 billion in its first phase and expected to total $3.8 billion by 2030-2035. Besides Chancay, Peru has other well-developed ports like the Port of Callao, which has seen investments exceeding $5.48 billion, with additional expansions planned.
Trade between the UAE and Peru has shown steady growth, with UAE exports to Peru reaching around $53.7 million in 2023, including products such as ethylene polymers, special purpose motor vehicles, and propylene polymers. Conversely, Peru exports to the UAE were much higher, totaling about $1.08 billion in 2023, mainly consisting of gold, fruits, and silver. These exports from Peru to the UAE have grown at an annualized rate of nearly 19% over the last five years.
The Peruvian Business Council is expected to contribute to these relationships by promoting business engagement and strategic partnerships. The Council is likely to foster dialogue and strategic partnerships between Peruvian and Emirati businesses, organize events, trade missions, and networking opportunities to promote commerce, and support investment projects like the port developments and encourage collaboration in sectors like mining, agriculture, and technology.
The launch of the Peruvian Business Council was announced during its inaugural annual general meeting, which took place at the chamber's headquarters. H.E. Dr Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade, was present at the meeting. The meeting revealed plans for the Peruvian Business Council's year, including a programme of events and strategies to deepen collaboration between business communities in Dubai and Peru.
As of Q1 2025, 23 Peruvian companies are registered as active members of the Dubai Chamber of Commerce, indicating a strong momentum in bilateral business engagement between Dubai and Peru. The Peruvian Business Council is the latest addition to the 61 country-specific Business Councils under the Dubai Chamber of Commerce umbrella.
Maha Al Gargawi, Vice President of Business Advocacy at Dubai Chambers, made a statement about the council, emphasizing Dubai's growing status as a strategic hub for Latin American markets. The statement also indicated the council's goal to attract international investment to Dubai's non-oil economy, which is not explicitly mentioned in the current paragraph.
In 2024, non-oil trade between Dubai and Peru increased by 91% year-on-year, reaching over AED 8.3 billion, further underscoring the importance of the Peruvian Business Council in facilitating business engagement between Dubai and Peru. The council is poised to play a crucial role in providing access to new opportunities for businesses in both countries, contributing to the strengthening of Peru-UAE economic cooperation.
- The Peruvian Business Council, launched by the Dubai Chamber of Commerce, is anticipated to supporting investment projects like the port developments and encouraging collaboration in sectors such as mining, agriculture, and technology.
- The current key trade and investment links between the United Arab Emirates and Peru are primarily centered around business activities, with the UAE playing an important role as an operator in Peru’s main port facilities.
- The Peruvian Business Council is expected to promote dialogue and strategic partnerships between Peruvian and Emirati businesses, organizing events, trade missions, and networking opportunities to boost commerce.
- The Council is also expected to contribute to the strengthening of Peru-UAE economic cooperation, facilitating access to new opportunities for businesses in both countries and further enhancing the strategic presence of Dubai in the Latin American markets.
