Peru country brief
Peru country brief
As resource-rich countries bordering the Pacific Ocean, Australia and Peru enjoy a positive relationship which has expanded quickly in recent years.
Mining and energy sectors, education and people-to-people ties.
One of the fastest growing economies globally for two decades.
The relationship between Australia and Peru has expanded quickly in recent years. Key areas of interest include mining and energy, education, tourism and people-to-people links. Australia and Peru work together in a number of international forums, including the UN, the WTO, the Cairns Group and APEC to promote greater liberalisation of trade and investment and to enhance regional integration.
Peru participates in a wide range of international and regional forums, including the UN, the WTO, the Organization of American States (OAS), APEC (which Peru hosted in 2008 and 2016), IMF, the World Bank, the Union of South American States (UNASUR), the Forum for East Asia-Latin America Cooperation (FEALAC), Andean Community of States, the Community of Latin American and Caribbean States (CELAC), and the Pacific Alliance.
Peru has Free Trade Agreements (FTAs) with the United States, Canada, the European Union, China and many other countries, and is a member of the Andean Community Customs Union.
Peru is on the UNSC for the 2018-19 term and is the 2018 Pacific Alliance Pro-Tempore President.
- Peruvian visitors to Australia (2017) – 4,200
- Australian visitors to Peru (primary destination 2017)* – 19,200
- Resident Australian population born in Peru (2016) – 9,550
- Australian residents of Peruvian descent (2016) – 11,100
- Peruvian work and holiday makers (2017-18) – 100
- Peruvian students in Australia (2017) – 1,140
High level engagement
- September – An Australian parliamentary delegation visited Peru.
- February – Peru's Minister for Foreign Trade and Tourism, Mr Eduardo Ferreyros, signed the Peru-Australia FTA (PAFTA) in Canberra.
- May – Peru's Minister for Foreign Trade and Tourism, Mr Eduardo Ferreyros visited Australia to announce PAFTA.
- November – Prime Minister Malcolm Turnbull and Minister for Trade, Tourism and Investment Steven Ciobo attended APEC in Lima.
Agreements with Peru
- Pacific Alliance FTA (under negotiation)
- Peru-Australia FTA (signed 12 February 2018, ratification in progress)
- Trans-Pacific Partnership (TPP-11)
- Air Services Agreement (ratification in progress)
- Work and Holiday MoU
- MoU on Water Cooperation
- MoU on Education
- MoU on Political Consultations and Cooperation and Development Cooperation
Peru is a Tier 1 Priority country for the Endeavour Leadership Program. Under the previous Endeavour Mobility Grants and Endeavour Scholarships and Fellowships programs, six Peruvians have been offered opportunities to undertake study, research and professional development in Australia and 81 Australians have been offered opportunities to undertake a study experience in Peru.
Alumni of Australian institutions are active in Peru through the Australian Alumni Association of Peru.
Through the Direct Aid Program, the Australian Government provides financial support to a range of projects in Peru. In 2017-18, the Direct Aid Program supported projects in Peru across the following focus areas: economic empowerment, inclusive education, gender equality, the protection of vulnerable groups, and community development through sports, water management and environmental protection.
In 2018, the Council on Australia-Latin America Relations (COALAR) provided grants to the Australian Institute of Aboriginal and Torres Strait Islander Studies, the University of New South Wales Somos21 Limited and i2i Development Projects to connect and collaborate with people and institutions in Peru.
Peru's fast-growing economy is one of Latin America's top performers, with 18 years of macroeconomic and financial stability to its credit.
Australia and Peru signed the Peru-Australia FTA (PAFTA) on 12 February 2018. The agreement will launch a new chapter of economic relations between Australia and Peru. It ensures Australia is well-placed to share in Peru's economic growth, providing opportunities for Australian businesses.
Peru is also a signatory to the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (TPP-11). Australia and Peru will share in the benefits this ambitious regional agreement will provide.
Peru's open investment regime, stable government and abundance of natural resources make it an attractive investment destination, particularly in the extractive sectors. The expanding tourism sector has also seen Australian investments. Education is another area which Australian institutions are targeting.
Australia's commercial presence in Peru has increased significantly, with nearly 90 Australian companies now represented in Peru and over $5 billion invested.
See Smartraveller for information on travelling to Peru.
Australian Embassy in Peru
*Peru reports the number of Australian visitors as 41,700 in 2017 (Migraciones Superintendencia Nacional).