Keep Us Strong WikiLeaks logo

Currently released so far... 97115 / 251,287

Articles

Browse latest releases

Browse by creation date

Browse by origin

A B C D F G H I J K L M N O P Q R S T U V W Y Z

Browse by tag

A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
ETRD EAGR ETTC EAID ECON EFIN ECIN EINV ELAB EAIR ENRG EPET EWWT ECPS EIND EMIN ELTN EC ETMIN EUC EZ ET ELECTIONS ENVR EU EUN EG EINT ER ECONOMICS ES EMS ENIV EEB EN ECE ECOSOC EK ENVIRONMENT EFIS EI EWT ENGRD ECPSN EXIM EIAD ERIN ECPC EDEV ENGY ECTRD EPA ESTH ECCT EINVECON ENGR ERTD EUR EAP EWWC ELTD EL EXIMOPIC EXTERNAL ETRDEC ESCAP ECO EGAD ELNT ECONOMIC ENV ETRN EIAR EUMEM ENRGPARMOTRASENVKGHGPGOVECONTSPLEAID EREL ECOM ECONETRDEAGRJA ETCC ETRG ECONOMY EMED ETR ENERG EITC EFINOECD EURM EENG ERA EXPORT ENRD ECONEINVETRDEFINELABETRDKTDBPGOVOPIC EGEN EBRD EVIN ETRAD ECOWAS EFTA ECONETRDBESPAR EGOVSY EPIN EID ECONENRG EDRC ESENV ETT EB ENER ELTNSNAR ECHEVARRIA ETRC EPIT EDUC ESA EFI ENRGY ESCI EE EAIDXMXAXBXFFR EETC ECIP EIAID EIVN EBEXP ESTN EING EGOV ETRA EPETEIND ELAN ETRDGK EAIDRW ETRDEINVECINPGOVCS EPEC ENVI ELN EAG EPCS EPRT EPTED ETRB EUM EAIDS EFIC EFINECONEAIDUNGAGM EAIDAR ESF EIDN ELAM EDU EV EAIDAF ECN EDA EXBS EINTECPS ENRGTRGYETRDBEXPBTIOSZ EPREL EAC EINVEFIN ETA EAGER EINDIR ECA ECLAC ELAP EITI EUCOM ECONEFINETRDPGOVEAGRPTERKTFNKCRMEAID EARG ELDIN EINVKSCA ENNP EFINECONCS EFINTS ECCP ETC EAIRASECCASCID EINN ETRP EAIDNI EFQ ECOQKPKO EGPHUM EBUD ECONEINVEFINPGOVIZ ENERGY ELB EINDETRD EMI ECONEFIN EIB EURN ETRDEINVTINTCS EIN EFIM ETIO ELAINE EMN EATO EWTR EIPR EINVETC ETTD ETDR EIQ ECONCS EPPD ENRGIZ EISL ESPINOSA ELEC EAIG ESLCO EUREM ENTG ERD EINVECONSENVCSJA EEPET EUNCH ECINECONCS ETRO ETRDECONWTOCS ECUN EFND EPECO EAIRECONRP ERGR ETRDPGOV ECPN ENRGMO EPWR EET EAIS EAGRE EDUARDO EAGRRP EAIDPHUMPRELUG EICN ECONQH EVN EGHG ELBR EINF EAIDHO EENV ETEX ERNG ED
KMDR KPAO KPKO KJUS KCRM KGHG KFRD KWMN KDEM KTFN KHIV KGIC KIDE KSCA KNNP KHUM KIPR KSUM KISL KIRF KCOR KRCM KPAL KWBG KN KS KOMC KSEP KFLU KPWR KTIA KSEO KMPI KHLS KICC KSTH KMCA KVPR KPRM KE KU KZ KFLO KSAF KTIP KTEX KBCT KOCI KOLY KOR KAWC KACT KUNR KTDB KSTC KLIG KSKN KNN KCFE KCIP KGHA KHDP KPOW KUNC KDRL KV KPREL KCRS KPOL KRVC KRIM KGIT KWIR KT KIRC KOMO KRFD KUWAIT KG KFIN KSCI KTFIN KFTN KGOV KPRV KSAC KGIV KCRIM KPIR KSOC KBIO KW KGLB KMWN KPO KFSC KSEAO KSTCPL KSI KPRP KREC KFPC KUNH KCSA KMRS KNDP KR KICCPUR KPPAO KCSY KTBT KCIS KNEP KFRDCVISCMGTCASCKOCIASECPHUMSMIGEG KNNB KGCC KINR KPOP KMFO KENV KNAR KVIR KDRG KDMR KFCE KNAO KDEN KGCN KICA KIMMITT KMCC KLFU KMSG KSEC KUM KCUL KMNP KSMT KCOM KOMCSG KSPR KPMI KRAD KIND KCRP KAUST KWAWC KTER KCHG KRDP KPAS KITA KTSC KPAOPREL KWGB KIRP KJUST KMIG KLAB KTFR KSEI KSTT KAPO KSTS KLSO KWNN KPOA KHSA KNPP KPAONZ KBTS KWWW KY KJRE KPAOKMDRKE KCRCM KSCS KWMNCI KESO KWUN KPLS KIIP KEDEM KPAOY KRIF KGICKS KREF KTRD KFRDSOCIRO KTAO KJU KWMNPHUMPRELKPAOZW KEN KO KNEI KEMR KKIV KEAI KWAC KRCIM KWCI KFIU KWIC KCORR KOMS KNNO KPAI KBWG KTTB KTBD KTIALG KILS KFEM KTDM KESS KNUC KPA KOMCCO KCEM KRCS KWBGSY KNPPIS KNNPMNUC KWN KERG KLTN KALM KCCP KSUMPHUM KREL KGH KLIP KTLA KAWK KWMM KVRP KVRC KAID KSLG KDEMK KX KIF KNPR KCFC KFTFN KTFM KPDD KCERS KMOC KDEMAF KMEPI KEMS KDRM KEPREL KBTR KEDU KNP KIRL KNNR KMPT KISLPINR KTPN KA KJUSTH KPIN KDEV KTDD KAKA KFRP KWNM KTSD KINL KJUSKUNR KWWMN KECF KWBC KPRO KVBL KOM KFRDKIRFCVISCMGTKOCIASECPHUMSMIGEG KEDM KFLD KLPM KRGY KNNF KICR KIFR KM KWMNCS KAWS KLAP KPAK KDDG KCGC KID KNSD KMPF KPFO KDP KCMR KRMS KNPT KNNNP KTIAPARM KDTB KNUP KPGOV KNAP KNNC KUK KSRE KREISLER KIVP KQ KTIAEUN KPALAOIS KRM KISLAO KWM KFLOA
PHUM PINR PTER PGOV PREL PREF PL PM PHSA PE PARM PINS PK PUNE PO PALESTINIAN PU PBTS PROP PTBS POL POLI PA PGOVZI POLMIL POLITICAL PARTIES POLM PD POLITICS POLICY PAS PMIL PINT PNAT PV PKO PPOL PERSONS PING PBIO PH PETR PARMS PRES PCON PETERS PRELBR PT PLAB PP PAK PDEM PKPA PSOCI PF PLO PTERM PJUS PSOE PELOSI PROPERTY PGOVPREL PARP PRL PNIR PHUMKPAL PG PREZ PGIC PBOV PAO PKK PROV PHSAK PHUMPREL PROTECTION PGOVBL PSI PRELPK PGOVENRG PUM PRELKPKO PATTY PSOC PRIVATIZATION PRELSP PGOVEAIDUKNOSWGMHUCANLLHFRSPITNZ PMIG PREC PAIGH PROG PSHA PARK PETER POG PHUS PPREL PS PTERPREL PRELPGOV POV PKPO PGOVECON POUS PGOVPRELPHUMPREFSMIGELABEAIDKCRMKWMN PWBG PMAR PREM PAR PNR PRELPGOVEAIDECONEINVBEXPSCULOIIPBTIO PARMIR PGOVGM PHUH PARTM PN PRE PTE PY POLUN PPEL PDOV PGOVSOCI PIRF PGOVPM PBST PRELEVU PGOR PBTSRU PRM PRELKPAOIZ PGVO PERL PGOC PAGR PMIN PHUMR PVIP PPD PGV PRAM PINL PKPAL PTERE PGOF PINO PHAS PODC PRHUM PHUMA PREO PPA PEPFAR PGO PRGOV PAC PRESL PORG PKFK PEPR PRELP PREFA PNG PGOVPHUMKPAO PRELECON PINOCHET PFOR PGOVLO PHUMBA PRELC PREK PHUME PHJM POLINT PGOVPZ PGOVKCRM PGOVE PHALANAGE PARTY PECON PEACE PROCESS PLN PRELSW PAHO PEDRO PRELA PASS PPAO PGPV PNUM PCUL PGGV PSA PGOVSMIGKCRMKWMNPHUMCVISKFRDCA PGIV PRFE POGOV PEL PBT PAMQ PINF PSEPC POSTS PHUMPGOV PVOV PHSAPREL PROLIFERATION PENA PRELTBIOBA PIN PRELL PGOVPTER PHAM PHYTRP PTEL PTERPGOV PHARM PROTESTS PRELAF PKBL PRELKPAO PKNP PARMP PHUML PFOV PERM PUOS PRELGOV PHUMPTER PARAGRAPH PERURENA PBTSEWWT PCI PETROL PINSO PINSCE PQL PEREZ PBS

Browse by classification

Community resources

courage is contagious

Viewing cable 08LIMA693, PERU TRADE AND INVESTMENT BRIEFS

If you are new to these pages, please read an introduction on the structure of a cable as well as how to discuss them with others. See also the FAQs

Understanding cables
Every cable message consists of three parts:
  • The top box shows each cables unique reference number, when and by whom it originally was sent, and what its initial classification was.
  • The middle box contains the header information that is associated with the cable. It includes information about the receiver(s) as well as a general subject.
  • The bottom box presents the body of the cable. The opening can contain a more specific subject, references to other cables (browse by origin to find them) or additional comment. This is followed by the main contents of the cable: a summary, a collection of specific topics and a comment section.
To understand the justification used for the classification of each cable, please use this WikiSource article as reference.

Discussing cables
If you find meaningful or important information in a cable, please link directly to its unique reference number. Linking to a specific paragraph in the body of a cable is also possible by copying the appropriate link (to be found at theparagraph symbol). Please mark messages for social networking services like Twitter with the hash tags #cablegate and a hash containing the reference ID e.g. #08LIMA693.
Reference ID Created Released Classification Origin
08LIMA693 2008-04-21 17:57 2011-08-25 00:00 UNCLASSIFIED Embassy Lima
VZCZCXRO3753
RR RUEHAO RUEHCD RUEHGA RUEHGD RUEHGR RUEHHA RUEHHO RUEHMC RUEHNG
RUEHNL RUEHQU RUEHRD RUEHRG RUEHRS RUEHTM RUEHVC
DE RUEHPE #0693/01 1121757
ZNR UUUUU ZZH
R 211757Z APR 08
FM AMEMBASSY LIMA
TO RUEHC/SECSTATE WASHDC 8460
INFO RUEHWH/WESTERN HEMISPHERIC AFFAIRS DIPLOMATIC POSTS
RUCPDOC/DEPT OF COMMERCE WASHINGTON DC
RUEHRC/DEPT OF AGRICULTURE WASHINGTON DC
RHMFIUU/DEPT OF ENERGY WASHINGTON DC
RUEATRS/DEPT OF TREASURY WASHINGTON DC
RUEHC/DEPT OF INTERIOR WASHINGTON DC
RHEHAAA/NATIONAL SECURITY COUNCIL WASHINGTON DC
RUEAIIA/CIA WASHDC
UNCLAS SECTION 01 OF 03 LIMA 000693 
 
SIPDIS 
 
SIPDIS 
 
COMMERCE FOR 4331/MAC/WH/MCAMERON 
TREASURY FOR MMALLOY 
USTR FOR BHARMAN AND MCARRILLO 
 
E.O. 12958: N/A 
TAGS: ETRD ECON EFIN USTR PE
 
SUBJECT: PERU TRADE AND INVESTMENT BRIEFS 
 
SUMMARY 
1.  This is an update on the following trade and 
investment news from Peru: 
 
-- Imports Increase 30% First Two Months of 2008 
-- Peru Reports $538 Million Trade Surplus for 
February 
-- 2007 Agriculture Exports Remain High 
-- Peru Investment Grade Follow On 
-- Strike, Environmental Challenges at Doe Run 
Peru 
-- Despite Politics, Chileans Propose More 
Investment in Peru 
-- Peruvians Interested in Purchasing North 
American Stocks 
-- Port Concessions Could Result in Significant 
Investment 
-- PTPA Agriculture Assistance Will Reach $1.2 
Billion 
 
IMPORTS INCREASE 30% FIRST TWO MONTHS OF 2008 
2.  Peru's imports are up 30.2% from the same 
period last year, mostly due to strong consumer 
demand.  For January and February, capital goods 
were up 33.8%, consumer goods were up 42.13% and 
durable goods also showed an increase.  The 
number one country of origin is the U.S. with 
18.9% of the import volume, or $264.4 million in 
February alone.  Next is China with 16.4% or 
$214 million followed by Japan, Mexico, and 
Colombia.  The Korean car company Kia reported a 
93% increase in imports in the first trimester 
due to a 71% increase in sales. 
 
PERU REPORTS $538 MILLION TRADE SURPLUS FOR 
FEBRUARY 
3. Peru reported a February net trade surplus of 
$538 million as a result of larger than expected 
exports earnings due to higher prices and 
increased production, according to the Central 
Bank.  Exports grew 26.4% from the same month 
last year to $2.411 billion, while imports 
totaled $1.873, resulting in a 37.2% surplus. 
Traditional exports were up 26.3% to $1.840 
billion owing mostly to increased sales in 
copper (up 57.5%) and gold (up 75.4%).  Non- 
traditional exports grew 27.6% to $559 million 
from the same time last year driven primarily by 
agriculture, fisheries, and chemicals markets. 
 
2007 AGRICULTURE EXPORTS REMAIN HIGH 
4.  An increase in prices and high production 
levels led to record agricultural exports, 
totaling $2.167 billion in 2007, up 5% from 
2006.  Production levels were seen on average to 
have increased 3.1%, with a 15% increase in 
sugar, and an 8% increase in asparagus.  The top 
exports in rank order were: asparagus, paprika, 
artichokes, grapes, avocado, and citrus. 
Predicted climactic conditions indicate that 
2008 exports will be even higher in production 
and will benefit from an opening of new markets 
in China, Singapore and Thailand.  Peru is the 
number one exporter of fresh asparagus to the 
United States and has become number one in 
preserved artichokes, recently overtaking Spain. 
 
PERU INVESTMENT GRADE FOLLOW ON 
5. Despite the congratulatory mood around the 
Fitch Investment recent rating of Peru as 
investment grade BBB minus (stable), observers 
say that markets had largely factored in the 
upgrade.  Peruvian assets showed some 
improvement, and additional investment flows 
into Peru in terms of both FDI and portfolio 
inflows will now increase marginally. 
Nevertheless, market observers say increases 
will be more substantial once an additional 
investment upgrade is received from one of the 
major raters, such as Moody's or Standard & 
 
LIMA 00000693  002 OF 003 
 
 
Poor's.  Fitch made the announcement based on 
strong improvement in Peru's fiscal and external 
solvency ratios, which helped counterbalance 
credit weakness, as well as political and social 
risks.  Standard & Poors and Moody's rate Peru 
at one and two notches below investment grade 
respectively. 
 
STRIKE, ENVIRONMENTAL CHALLENGES AT DOE RUN PERU 
6.  The U.S.-owned Doe Run metallurgical plant 
in La Oroya is operating at partial strength due 
to a week-long strike by most of its 1,720 
workers, who are demanding shorter hours and 
more pay.  Unrelated, the Peruvian subsidiary 
also recently lost its environmental 
certification from German-based company TUV 
Rheinland.  The Peruvian government recently 
gave Doe Run until next year to complete an 
emergency clean-up plan to alleviate toxic 
emissions near the smelter. The company was 
recently sued in U.S. federal courts for the 
lead poisoning of 150 Peruvian children living 
near the plant. 
 
DESPITE POLITICS, CHILEANS PROPOSE MORE 
INVESTMENT IN PERU 
7.  Despite the current bilateral dispute over 
maritime borders, Chilean investors remain very 
interested in investing more in Peru.  The 
president of the Chilean Bank and Financial 
Investment Association stated Chilean investors 
are putting pressure on their Congress to widen 
its commercial agreement with Peru and approve 
an FTA immediately in order to invest 
significantly more.  Peru is the third largest 
recipient of Chilean investment in the world, a 
total of $5.575 billion from 1990-2007, 
currently providing for over 40,000 Peruvian 
jobs.  Chilean investors currently dominate the 
retail sector. This time Chilean investors are 
reportedly looking seriously at the energy 
sector. 
 
PERUVIANS INTERESTED IN BUYING NORTH AMERICAN 
STOCKS 
8.  The president of the Central Stock Registry 
predicted that Peruvian purchases of U.S. and 
Canadian stocks will increase $122.8 million in 
the first quarter of 2008 (up 147% from the same 
time last year), 95% in stocks and 5% in bonds. 
He reported that sales of Peruvian stock to 
foreign investors this first quarter totaled 
$196.8 million (up 29%), 86% in stocks and 14% 
in bonds.  Most of the stocks purchased in both 
directions were in the mining, 
telecommunications, hydrocarbon, and banking and 
financial sectors. 
 
PORT CONCESSIONS COULD RESULT IN SIGNIFICANT 
INVESTMENT 
9.  Peru's port concessions could result in $411 
million of investment in Peru's seven ports. 
The ports include Paita, Salaverry, Chimbote, 
Ilo, San Martin, Iquitos, Pucallpa, and 
Yurimaguas.  Peru's Investment Promotion Agency 
(ProInversion) stated that it will use the APEC 
and EU summits to attract investors from 
countries such as Singapore who has already 
expressed interest.  David Lemor, the Director 
of Peru's Investment Promotion Agency 
(ProInversion), voiced concern that the Peruvian 
Congress will weaken potential port concessions 
with legislation to replace national with 
regional port authorities and other changes to 
the National Port System Law.  On April 9th, the 
ports were shut down for two hours due to 
striking workers supporting the legislation. 
Peru's main port of Callao, outside Lima, 
remains troubled by inefficiencies. In June 
2006, Dubai Ports World (DPW) acquired a 30-year 
 
LIMA 00000693  003 OF 003 
 
 
concession to develop and operate a new terminal 
at Callao. 
 
PTPA AGRICULTURE ASSISTANCE WILL REACH $1.2 
BILLION 
10.  The Minister of Agriclture announced $1.2 
billion investment over the next five years into 
two programs designed to assist with U.S.-Peru 
Trade Promotion Agreement (PTPA) implementation. 
The competitiveness enhancement plan ($700 
million) will aim to create economies of scale 
by the formation of associations with direct 
support for innovation, technology, and 
agricultural reconstruction.  The agro-rural 
program ($500 million) will work to modernize 
the poorest agricultural sectors, centralizing 
the administration of rural development 
activities and projects creating a single office 
for all related services.  It will have an 
emphasis on public-private partnerships with a 
focus on regional economic development.  There 
will be further details in the near future. 
MCKINLEY