October 2, 2012 / 3:25 PM / 5 years ago

Peru says to adopt export measures if crisis deepens

Oct 2 (Reuters) - Peru will adopt additional measures to help exporters if the global slowdown deepens, Finance Minister Luis Miguel Castilla said on Tuesday.

He did not offer specifics. In June he had introduced a dozen measures to help struggling exporters, from credit guarantees to streamlined customs procedures.

“If the problem becomes more acute other measures will be used,” Castilla said.

Peru’s economy is on track to grow 6 percent this year, the fastest pace in South America, as strong domestic demand offsets slumping exports.

Exports fell 25 percent in August to $3.5 billion from the same period a year ago and are down 5 percent so far this year as prices slip for minerals. Peru is a top metals exporter.

The country has one of the world’s most aggressive free-trade agendas, with trade deals ranging from China to the United States and Europe, and it is trying to diversify its pool of trading partners.

At a summit of Arab and South American leaders, Peru signed a cooperation pact with the Gulf Cooperation Council that could lead to a fuller free-trade agreement. The Gulf Cooperation Council includes Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and United Arab Emirates. (Reporting by Omar Mariluz; Editing by Leslie Adler)

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