Out of a total of 12 Peruvian companies in the fishmeal and fish oil industry, only two recorded profits during 2013, while the other ten accumulated a loss equivalent to 87.4 million dollars, according to the country's National Society of Fisheries, SNP.
Peruvian President Ollanta Humala at the end of his three day visit to Canada was honoured in Toronto by the Canadian Council of the Americas with the Statesman of the Year annual award. On thanking the award President Humala said that Peru during this year is expected to expand over 5.5% while investment is set to increase by 8%.
Uruguay and Peru are the first Latin American countries in line for a possible credit rating hike by Moody's Investors Service, at a moment when sovereign upgrades are expected to become more scarce in the region, a senior analyst with the ratings firm said.
The 50,000 square kilometers of maritime space Peru gained from the favorable ruling by the International Court of Justice in The Hague, on the border dispute with Chile, have a potential fishing activity that includes 200,000 tons of Peruvian squid, according to the country's Sea Institute, (Imarpe).
As the echoes of Monday’s International Court of Justice (ICJ) continued to reverberate in Santiago and Lima, Presidents Ollanta Humala and Sebastián Piñera of Peru and Chile met on the sidelines of the CELAC (Community of Latin America and Caribbean States) summit in Havana in a show of unity.
The United Nations’ highest court set a maritime boundary between Chile and Peru on Monday that grants Peruvians a bigger piece of the Pacific Ocean while keeping rich coastal fishing grounds in the hands of Chilean industry. Despite high emotions over the dispute, the ruling is expected to have little effect on cordial ties between the two neighbors whose economic interdependence has grown greatly in recent years.
With the decision over ongoing maritime dispute between Chile and Peru just weeks away, government officials on both sides insist relations between them are strong. On Jan. 27 Peru and Chile are set to find out who has legal ownership over 14,500 square miles of fishing waters off their borders, putting an end to a centuries-long dispute and ending a five year international court case.
Increased production and consumption of quinoa, coupled with higher visibility of and greater scientific knowledge about the so-called Andean super crop is the legacy left to the world by the International Year of Quinoa 2013, the closing ceremonies of which were held in Bolivia and Peru.
As the International Court of Justice is set to release its final verdict in January, Peru announces plans to build a new settlement less than a mile from the Chilean border. After years of tribulation, an end is finally in sight for a maritime dispute between Chile and Peru, with The Hague to announce its verdict on the case Jan. 27.
Over 150 representatives of British companies and businesses attended the conference on the Pacific Alliance (Chile, Peru, Colombia and Mexico) organized by the British Foreign & Commonwealth Office and the Financial Times. The Alliance is considered one of the newest and most promising political and economic blocks is emerging from Latin America.