Reflections on the anniversary of the Peru-Canada Trade Agreement: The Role of Investissement Québec International
In August of this year, we will celebrate the fifteenth anniversary of the entry into force of the Free Trade Agreement signed between Peru and Canada. It is an auspicious occasion because this year, 2024, marks 80 years of diplomatic relations between the two countries, which undeniably demonstrates the important ties between our two nations.
While this trade agreement mainly lays the groundwork for reciprocal access to new markets in both countries, diversifying trade and increasing competitiveness, it can also lead to greater economic and cultural exchange, benefiting the tourism industry in both countries.
For the above reasons and in general, trade agreements are fundamental because they create a framework for economic cooperation and integration between countries, fostering growth, innovation, and prosperity.
However, not all companies are ready to embark on the path of international trade, and we believe that this is explained by several reasons: not having a strategic plan for international business development, lack of a competitive product or service, lack of knowledge of the new market and poor network of local contacts, among others.
At Investissement Québec International (IQI), the government's economic development agency for the province of Quebec, our mission is to actively promote wealth generation by stimulating business innovation, entrepreneurship, business acquisitions, and the growth of investments and exports.
Operating in all administrative regions of the province allows us to support the creation and growth of various companies by offering them specialized support and tailor-made financial solutions, helping them on their way to exporting their goods and services.
Thanks to this institutional and professional support, Quebec companies can prepare for and more easily access the growing Peruvian market in sectors as diverse as aerospace, creative industries, mining, construction and infrastructure, renewable energies and professional services in technology and life sciences.
By importing from Quebec, Peruvian companies can diversify their sources of goods and services, reducing dependence on certain countries. We can help them identify suppliers that meet their needs.
We follow the construction and infrastructure sector closely because we believe it offers interesting opportunities for Quebec companies.
Infrastructure development projects:
Quebec suppliers can participate in infrastructure projects such as roads, bridges, railroads, and airports. These projects often require a wide range of construction materials, equipment, and services.
Green building and sustainable construction:
There is a growing global demand for sustainable building materials and technologies. Quebec suppliers specializing in green building materials, energy-efficient systems and sustainable construction practices can find opportunities throughout Peru.
Architectural and engineering services:
Quebec-based architecture and engineering firms can offer expertise in the design and planning of construction projects, including urban planning, landscape architecture, and structural engineering.
Modular and prefabricated construction:
Prefabricated and modular construction solutions are gaining popularity due to their efficiency and cost-effectiveness. Quebec suppliers involved in the manufacture of prefabricated components, modular buildings or off-site construction solutions can capitalize on this trend.
Renewable energy infrastructure:
As demand for renewable energy infrastructure grows, Quebec suppliers can provide materials and construction services for projects such as solar farms, wind farms and hydroelectric facilities.
Smart cities and digital building technologies:
Quebec companies specializing in smart city technologies, digital building solutions and building information modelling (BIM) can offer innovative products and services to improve building efficiency and sustainability.
Interior design and finish materials:
Quebec suppliers of interior design materials, finishing products and accessories can supply residential, commercial, and industrial construction projects locally and internationally.
By taking advantage of these opportunities, Quebec suppliers can expand their business, forge new partnerships with local companies and contribute to the sustainable development of the construction industry in both countries.
Investissement Québec International is dedicated to offering Quebec companies interested in expanding internationally the comprehensive support and accompaniment they need to navigate the trade and investment opportunities in Peru. We provide them with vital information on market trends, consumer behavior, regulatory requirements, and the competitive landscape, ensuring they are well-prepared for their international ventures.
Once opportunities are identified, we support companies in business development, identifying potential customers and facilitating the establishment of strategic alliances. This could involve the development of consortia, joint ventures, or research and development collaborations.
We can assist companies based in Quebec with promoting their products and services in Peru through trade fairs and missions. This will help to raise awareness of Quebec's capabilities and enhance the visibility of these companies in the Peruvian market. Our support includes providing access to government networks and resources in Quebec and Peru and making the most of trade agreements and bilateral initiatives to facilitate commercial transactions.
Investissement Québec International is committed to promoting sustainable development projects in Peru. We achieve this by connecting Québec companies with opportunities in environmental technologies, clean energy solutions and infrastructure development, allowing them to contribute to the responsible growth of the Peruvian market.
Overall, Investissement Québec International is a valuable resource for Quebec companies seeking to expand their presence in Peru. They provide various services and support to facilitate successful international projects and partnerships.