The Ministry of Foreign Trade and Tourism of Peru participated on April 14 in a high-level meeting with Grace Fu, Singapore’s Minister for Sustainability and the Environment and official responsible for Trade Relations, at the headquarters of the Ministry of Foreign Affairs during her official visit to Peru.
This meeting highlighted ongoing efforts to deepen commercial relations between Peru and Singapore. The Vice Minister of Foreign Trade, César Llona, represented Minister José Reyes at the session. Llona said that both countries share an interest in maintaining a rules-based trading system. He also pointed out opportunities arising from the Pacific Alliance-Singapore Free Trade Agreement, which recently entered into force.
Llona emphasized “the importance of accelerating the signing of the Verification of Origin Agreement to facilitate trade among participating economies.” He also discussed Peru’s progress toward joining the Digital Economy Partnership Agreement (DEPA), stating that this would boost e-commerce, digital interoperability, and innovation between both nations. Additionally, he mentioned Peru’s interest in fully integrating into the Future Investment and Trade Partnership (FIT-P) initiative aimed at strengthening resilient supply chains.
The session noted recent advances such as Singapore’s approval for Peruvian meat products to enter its market—a development expected to benefit Peru’s agribusiness sector. Other officials present included Hugo de Zela (Minister of Foreign Affairs), Nelly Paredes (Minister for Environment), and Jorge Luis Sáenz (Vice Minister for Agrarian Development Policies). They discussed related topics including investment, sustainability, and environmental cooperation.
Bilateral trade between Peru and Singapore reached a historic record of $180 million in 2025 due to significant growth in exports ($84.2 million; up 280%) and imports ($95.5 million; up 23%). Agroexports doubled year-over-year led by blueberries while cacao exports increased more than thirtyfold due to higher international prices. Essential lemon oil shipments were valued at $1.4 million; shark fins led fishery exports with $4.6 million recorded last year.
The Ministry directs policies on foreign trade and tourism while promoting export growth according to its official website. It collaborates with entities like PromPerú as part of national strategies advancing business expansion through sustainable tourism development according to ministry information. The agency operates under sector-specific autonomy within Peru’s executive branch according to official sources.
