Peru Emerges as a Major New Trade Partner for Brazil

Peru’s growing prominence as a major new trade partner for Brazil reflects a structural shift in regional trade, driven by mining activity and economic stability, said Regiane Bressan, a professor of International Relations at Unifesp, in an interview with Times Brasil — CNBC’s Exclusive Licensee.

The specialist explained that the Andean country is reaping the benefits of a long-term strategic plan focused on market opening. “Peru has invested in infrastructure and maintained free trade agreements with countries such as the United States and with the Pacific Alliance, opening its economy and strengthening itself as a major exporter, especially of copper and gold,” she noted.

Peru’s growth has been supported by strong global demand for minerals essential to the energy transition, a sector that moves billions of dollars. “Global demand for copper, driven by renewable energy and electric vehicle production, contributes to this growth, combined with diversification into higher value-added products such as blueberries and avocados,” Regiane explained.

The crisis in Argentina has also facilitated Brazil’s trade surplus, although Javier Milei’s country still retains industrial importance. “This medium- and long-term planning, combined with democratic stability, differentiates Peru from more volatile economies in the region, such as Argentina and Venezuela, which face different challenges.”

For Brazil, the Peruvian market represents a valuable opportunity to export manufactured goods, helping to balance a trade basket dominated by commodities. “Brazil can benefit by exporting higher value-added industrial products, such as automobiles, home appliances, and technology, but establishing direct agreements and maintaining political stability will be essential for a prosperous relationship.”

Source: Times Brasil

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