Minister of State for the Department of International Trade, Baroness Fairhead, will this week be aiming to place British companies at the front of the queue for contracts as she meets senior ministers in Peru and Colombia.
The visit comes just weeks after a record-breaking project was announced by a UK company in Peru. Anglo American’s Quellaveco project will see state of the art technology used to mine copper in the Moquegua region, with investment potentially reaching $5bn.
The Minister will meet with high-ranking politicians such as the Peruvian Prime Minister, Cesar Villanueva; Colombian minister of trade, tourism and industry, José Manuel Restrepo and the Mayor of Bogota, Enrique Peñalosa, to whom she will make the case that British companies have the innovation, experience and expertise to support critical infrastructure projects.
Peru is looking to build an additional £120bn infrastructure in the period to 2025, with British businesses well-placed to support on a range of these infrastructure projects. Projects include the installation of an integrated metro system in Lima. Opportunities are also available in Colombia as the new administration takes steps to improve the country’s infrastructure, with projects such as the expansion of the Bogota Metro, Cartagena Naval Base and Bogota Airport high on the agenda.
Minister of State for the Department of International Trade, Baroness Fairhead, said: “Both Peru and Colombia offer exciting opportunities for our innovative British businesses. New and exciting projects are springing up, including in the creative industries and infrastructure sectors, which we believe UK companies are best placed to meet with their vast knowledge and experience.
“DIT stands ready to support businesses that want to make the most of these opportunities, with a range of export support available. DIT offers anything from financial assistance from our world leading export credit agency, UK Export Finance, to the expertise of our overseas network.”
The UK’s total trade with Colombia and Peru currently stands at £1.5bn with the appointment of a new HM Trade Commissioner for Latin America, Joanna Crellin, aiming to drive up that number by providing a knowledgeable point of contact in the market.
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