The United Arab Emirates (UAE) and the Republic of Peru have solidified their partnership with the signing of an air services agreement. The agreement was formalized by Mohammed Abdullah Al Shamsi, UAE Ambassador to the Republic of Peru, on behalf of the UAE, and Gervasi Díaz, Minister of Foreign Affairs, representing Peru.
This milestone agreement marks a new chapter in the cooperation between the two nations and is set to enhance intra-trade and foster collaboration across various sectors. Al Shamsi highlighted that the non-oil bilateral trade between the UAE and Peru reached US$800 million in 2022, while UAE investments in Peru surpassed US$700 million over the past five years. Additionally, the intra-trade volume during the same period amounted to US$4.4 billion.
This milestone agreement marks a new chapter in the cooperation between the two nations.
Al Shamsi also emphasized the importance of previous agreements, such as the Memorandum of Understanding for political consultations in 2009 and the visa waiver agreement in 2019. With the signing of the air services agreement, both countries are looking forward to future collaborations, including agreements to protect and promote investments, avoid double taxation, and other initiatives that align with their mutual goals for development and prosperity.
The ambassador stressed that this agreement will facilitate increased trade exchange, support the economic agendas of both nations and strengthen aviation ties. It will benefit national airlines and various sectors, directly impacting the growth of air traffic between UAE and Peru’s airports, ultimately bolstering trade, economic, and tourism relations.
In response, Minister Díaz emphasized the UAE’s significance as Peru’s largest Arab investor, underlining the historic nature of this air services agreement as the first between the Middle East and South America. She highlighted the agreement’s potential for Peru to serve as a communication hub for airline networks in Latin America. Díaz deemed the signing of the agreement as a significant achievement and a pivotal moment in the robust relations between Peru and the UAE.
Díaz further noted that the agreement will pave the way for the establishment of new air routes, promoting tourism and business travel between Peru, and Arab countries, as well as Asian and Pacific nations.
