20 November 2017
Huge Opportunities in Peru – Australia Must Act
Rhys Roberts, Managing Director of Roberts Gray Lawyers today called for a united Australian effort to maximise opportunities arising from the new Australia-Peru Free Trade Agreement signed on 10 November.
“The Peruvian Government is committed to transforming the nation’s economy, with an emphasis on enhancing the economic, social and institutional environment,” said Mr Roberts.
“The Congress of the Republic of Peru has authorised expenditure of 7,774 million US dollars for repair of roads and education, housing and health infrastructure. This is to address damage created by the climatic phenomenon known as El Nino Costero.”
Mr Roberts said the massive reconstruction program in Peru created unique investment and business opportunities for Australia.
“The recently signed Free Trade Agreement with Peru could not have come at a better time,” he said.
“To support the new Free Trade Agreement with Peru, Roberts Gray Lawyers has established a partnership with Bafur: Barrios & Fuentes Abogados, Lima, Peru.”
“This means we can ensure that any political or legal impediments to business opportunities are effectively addressed,” said Mr Roberts.
“Approximately 77% of the recently announced reconstruction budget (5,986 million US dollars) will be assigned for repair of infrastructure, 21% will be spent on prevention work such as flood mitigation, and the remaining 2% will be spent on enhancement of management capabilities.”
“Infrastructure repair will include expenditure on roads, bridges, the education sector, housing, sanitation, health services, agriculture and irrigation,” he said.
“Bids for reconstruction work will be called during the first quarter of 2018,” said Mr Roberts. “Every effort must be made to ensure Australian businesses are supported to consider these opportunities and to build a strong, lasting trade and investment relationship with Peru.”
Managing Director, Senior Partner
Roberts Gray Lawyers
Phone: + 61 3 9642 2666