 Hello, everyone. Welcome to the webinar doing business in Peru, Canada, Peru, Pre-Trade Agreement, Comprehensive and Progressive Agreement for Transpacific Partnership and Business Opportunities for British Columbian Companies. My name is Ganna Drost, I'm Manager at the Trade Policy and Negotiations Branch with the Ministry of Jobs, Economic Recovery and Innovation. I'd like to acknowledge that I'm speaking today from the territories of the Likwangan speaking peoples, the Esquimald and some of these First Nations, traditional landkeepers of the land, where I live, work and play. This is the shortened version of the webinar that was delivered on February 16, 2022. The recording of that webinar was unfortunately corrupted, so this video was recorded from scratch and doesn't feature neither welcoming remarks by the ambassador, nor the testimonial from the CEC mining systems, nor the Q&A portion of the webinar. In this video you will listen to the presentations by Anouk Bergeron-Ladyberte, Commercial Counselor and Senior Trade Commissioner with the Embassy of Canada in Peru, and Roberta Riquejo, Associate Regional Manager, Undean Region with Expert Development Canada. This webinar doing business in Peru is part of a series of webinars on Pre-Trade Agreements that Canada has in South America and Market Opportunities in those markets. So there will be three presentations in this recording. We will start with a quick overview of Canada's bilateral trade agreement with Peru and the Comprehensive and Progressive Agreement for Trans-Pacific Partnership. And then we will move on to the presentation on expert opportunities and key sectors in the proven market by Anouk. Both presentations on trade agreements and market opportunities will last approximately 15-20 minutes each. And then we will move to the presentation on support to Canadian exporters in Peru, available through Canada's expert credit agency. And this presentation will be delivered by Roberta. So now let's start with the introduction to Canada's trade trade agreements with Peru. And for those of you who were not able to join the webinar on Chile, I'll say a few words about the branch I work at. The Trade Policy Negotiations branch represents busy interests in both domestic and international trade trade agreement negotiations, as well as in trade disputes that affect BC. And we also run consultations with BC businesses and stakeholders to better understand your interests and communicate them to the federal government who leads the international trade negotiations. And of course our branch also does FTA outreach sessions like this webinar to ensure that the information of these trade agreements that Canada includes is widely known. So here is a quick overview of my presentation. I'll briefly present the role of our ministry. Then I'll talk about Canada's trade agreements and Canada-Peru FTA, the CPTPP agreement and key opportunities for goods and services. I will also dive into some practical steps on how to use the free trade agreements. The BC Ministry of Jobs, Economic Recovery and Innovation aims to make life more affordable for British Columbians and build an economic recovery where no one is left behind. And there are many ways to foster this economic recovery and growth and one way is to encourage you BC businesses to diversify your expert markets and leverage the opportunities that are found in trade trade agreements. And we want you to succeed in your expert journey and this is why we focus on providing you support and having your back when you do your business outside of province, domestically or internationally. And we assist you to be aware and leverage opportunities through through a variety of programs like expert navigator for example that provides free support and ongoing guidance to help your business grow outside of BC. And we also have BC in market representative offices that are based in a number of markets globally. So Canada has a first mover advantage and to this day has secured 14 free trade agreements that cover 49 countries along with two domestic trade agreements. And those agreements give you your businesses access to nearly 90% of expert markets for about 1.5 billion potential consumers worldwide. And this map shows you where in the world Canada currently has those free trade agreements. The countries that have implemented free trade agreements with Canada are marked in light blue and some of the well-known free trade agreements are USMA, Canada's agreement with the US and Mexico, the CPTPP comprehensive and progressive agreement trans specific partnership and a few others. In green are marked countries where Canada is in negotiation or in exploratory talk and in dark blue are countries where Canada has concluded but not yet ratified the free trade agreements. So there is Chile in pink it has in force and not yet ratified free trade agreements. So some free trade agreements overlap and this is the case of Canada's trade agreements with Peru. Canada has a bilateral agreement with Peru and Peru also has recently ratified the CPTPP agreement last September to be more specific, September 2021. The good news for you is that you can choose under which FTA you can claim preferential terms of trade and in addition a few years ago to the discussion started around a free trade agreement between Canada and Pacific Alliance to which Peru is also part A2. So potentially at some point in the future you'll need to decide between three FTAs with Peru under which you want to claim the preferential treatment. So also a question what free trade agreements do? Well the free trade agreements they facilitate trade and eliminate trade barriers between nations and you might also wonder how do they do this? So if you know anything about FTAs you probably know that most visible aspects are goods market access which means tariff reductions and tariff eliminations but FTAs they also do much more than this and some FTAs cover only goods while others include services investment, government procurement etc and also free trade agreements of today are changing and they are becoming more and more comprehensive and modern to cover things like SMEs, e-commerce and and inclusive trade. Now let's take a deeper dive into the Canada Peru free trade agreement or the CPFTA. Let's start with some facts. The CPFTA entered into force in August 2001 and it became Canada's fifth FTA in South America. The agreement is a comprehensive one and in addition to cover reduction and elimination of tariffs it covers trade in services, government procurement, investments, e-commerce, financial services and so on and today Canada is an important trade-in partner for Peru it is a sole supplier of oats to Peru for example and Canada also supplies 80% of Peru's wheat imports and 50% of Peru's dry beans imports and 60% of Peru's imports of explosives so it's a pretty pretty good ranking for for Canada in Peru. VC ranks number six, Simon, Canadian provinces exporting to Peru and it's more than doubled experts to Peru in 2019 so there was a site set back in experts during the pandemic in 2020 and 2021 but due to our geographic location our maritime route to Peru and market is also one of the shortest compared to other provinces and the key VC experts to Peru include medical apparatus for x-rays machinery and parts distant for mining industry paper laboratory regions cameras and serials. So now let's take a quick look at the CPTPP agreement so the CPTPP is one of Canada's most recently implemented trade agreements and it entered into force at the end of 2018 for the majority of its members. Currently the CPTPP is in force for eight countries Canada, Australia, Japan, Mexico, New Zealand, Singapore, Vietnam and Peru. The CPTPP entered into force for Peru on September 19, 2021 and Peru caught up on or as we say matched Canada's schedule of tariff reduction determinations. In other words Peru entered into year five of tariff reduction schedule in 2022 as other members who have ratified the CPTPP early on and in addition to tariff reduction and elimination there is a number of perks that go with the CPTPP entering to force for Peru. On investment for example the CPTPP will allow VC and Canadian companies to invest with greater confidence in Peru offering protections from unfair and discriminatory treatment for example and there are also new commitments on the temporary entry of business people that will make it easier for Canadian and VC businesses to temporarily move the high-skilled Canadian professionals and technicians to Peru and this is just a high level overview of some benefits. There are many more advantages that I had to curtail and be in the interest of time. Let's now take a look at some opportunities for Canadian and VC goods in Peru. So in terms of tariff reductions it is useful to know that Peru's most favored nations tariff tariff that applies to countries that Peru has no pre-trade agreement with whereas from 6 to 11 percent dependent on the product. Canada Peru FTA provides considerable advantages to products made in Canada as it eliminated or phased out a number of Peruvian tariffs and through the CPTPP Peru has further reduced or eliminated or caught up on the CPFTA tariffs and as you can see from this slide most of the agri-food products as well as value-added food products became duty-free. Some products however were excluded and still phased tariffs for example dairy, apparel and some wheat products. The very important point here is if you wish to take advantage of the preferential tariff treatment under Canada Peru agreement the CPTPP or any other pre-trade agreement you need to claim the preferential treatment and Peruvian customs authorities will not just assume that your product qualifies for zero percent tariff just because it was shipped by a Canadian company from Canada and I'll come back to that in a few new sites. So in today's new age FTAs benefits for trade they go beyond effect of lower tariffs and FTA provide greater certainty and reduce perceived business risk while making doing business more transparent and more predictable. When entered into force in 2009 the CPFTA was instrumental and continues to provide Canadian exporters with a level plain filled with other competitors in the proven market. For example Peru already had an FTA with the with the US back in 2009 and later on it also signed agreements with China, European Union, Singapore, South Korea and a number of South American countries. Both bilateral agreement and the CPTPP provide access to government procurement for Canadian companies in Peru and under both agreements Canada and Peru agreed to a negative list approach which means that the agreement covers procurement of all goods and services unless specified otherwise. The list of entities that are covered under the CPFTA and the CPTPP is different and under the CPFTA covered entities are central governments, entities universities and stent enterprises in Peru. Well under the CPTPP the entities covered are central and regional government entities as well as some other agencies. So in the table on this slide you can see the approximate thresholds under both agreements and the thresholds give you an idea about the value the procurement contract has to be about so that it can be bid on by a Canadian company and still be covered by the pre-trade agreement. And the covered on the thresholds that you can see on this slide is that they are rounded and presented in Canadian dollars for your convenience. We often hear from you whether the FTA benefits are automatic if you export to a country that Canada has an agreement with. The short answer is no you have to claim the benefits of preferential treatment. So I'll just provide a glimpse into a few key steps for you to keep in mind when you do business in countries covered by Canada's FTAs. First you'd want to check a tariff preference in a select FTA market and you can do it through Canada's tariff finder website using a harmonized system code or a keyword for your product. This tool is user friendly and helps you to see how your goods will be treated in Canada's FTA markets tariff wise. Next step is the rules of origin compliance. Rules of origin are the rules around the amount of domestic content in a good and rules of origin can be complicated and they are also product specific and agreement specific. So for example for Peru they can be different for your product depending on whether you claim your product as originating under the Canada Peru pre-trade agreement or the CPTPP pre-trade agreement. If you are in doubt we can help and take a look at your product in more details. So once you are done with the first two steps we will need to fill in a certificate of origin and the information needed for the certificates can vary by agreement. Under the CPTPP for example there is no set format for the certificate of origin and if you want to be sure how your how another country's customs administration will treat your product on arrival you can also request an advanced ruling on tariff or on origin information and advanced rulings are often one of the most effective trade facilitation tools in Canada's FTAs and they help expedite customs clearance and provide more certainty about how the custom administration of the recipient country will treat your product at the border even before you ship it. So I will close by saying that we continue to support people and businesses in the recovery from the pandemic by assisting you with leveraging the opportunities in Canada's pre-trade agreements and if this is something that you are considering be it in South America, Asia, Europe or other markets please contact us and we'll make sure that you get the information and assistance you need. Now I'll flip it to Anouk Bergeron la Liberté, commercial councillor and senior trade commissioner with the Embassy of Canada in Peru for a proportion of the presentation. Good morning everyone thank you again to the BC Ministry of Jobs at Economic Recovery and Innovation and in particular to Gennah Andrews for developing this initiative. I think we all agree that we need to have more of these sessions so companies can be exposed to new markets. This presentation is an introduction to Peru as an interesting diversification market and my presentation today I will be covering in general what we see as business opportunities in some of the key sectors we work on more actively. This doesn't mean we don't see opportunities in other sectors and we would encourage you to contact us afterwards so we can discuss your individual cases. I will as well present on what the trade commissioner is the trade commissioner services about and I am here this morning with part of the trade team of the Embassy of Canada in Peru FJGAR trade commissioner responsible for the ag sector and everything related to trade policy market access and Alexandra La Verdeur trade commissioner responsible for the mining sector and response RBC responsible business contact. We have three other trade commissioners who could not be with us this morning. Their contact information will be available at the end of the powerpoint. Just to provide additional information that was not necessarily presented by Gennah on the bilateral commercial relationship I'll be quick on that one but wanted to give you a few key information so as you could see on the slide Peru is an important partner for Canada. I show really in this slide some interesting figures on bilateral trade between the two countries. In 2022 way trade was 4.5 billion Canadian dollars. You see here the Canadian exports to Peru the Canadian imports from Peru as well and and the Canadian investment in Peru which are important with 15 billion Canadian dollars and mostly in mining. We haven't got the last figures or the full figures for 2021 but we've seen up to October that the two-way trade was was kind of having an increased by an increase by approximately 20 percent so that's that's positive and that's that's good to see and also a couple of points here Peru is Canada's second most important trading partner in the South American region so it's not nothing so it's after Brazil but it's followed by Chile and Colombia so they're always close by Chile, Colombia, Peru and Peru is the third most important destination for Canadian investment in the region so it is it is an important partner in the region. Now I would like to speak briefly about the trade commissioner service and how we can support Canadian companies and their business development projects so the TCS is here to help make the exporting journey more efficient and however questions you need to ask yourself and planning to enter new international markets are the following and I will name them in a few minutes and the presentation today serves this purpose right to give you initial information on the potential of Peru as a new market to pursue but some of the questions you should ask yourself it's your company ready how do you reduce and manage the risks and uncertainties what market should you pursue how do you find the right contacts and this is what we offer so our expertise is really and our expertise and support is really to help Canadian companies grow around the world we've been doing that for the last 25 years so we help companies go globally through export sales for an investment and other types of international commercial activity for example one additional thing that we might be doing is to help you develop science and technology partnerships just to name one example so we offer a network of trade commissioners in Canada and abroad we will see a bit more about that in a minute funding so can export we'll get into a bit more details and business support so we organized we organized activities some of them there in Peru were more actively organizing trade missions and events and bringing also you know buyers to Canada or to other trade and trade events that we might we might see a big Canadian delegation in third country for example and in the US we often have like trade shows and I'll talk about that in a few in a few minutes our network so it's what exactly do trade commissioners do to help produce risks and save time so we provide key market insights as you can see on this slide and in practical business advice and this is a little bit of what we're we're covering today briefly we also help open the door to new business opportunities globally we identify qualified business contacts based on your needs and we resolve complex business problems and in the that you might face in foreign markets in order to do this it's better we we talk to you individually eventually and I think this is key here today we cover as I mentioned previously general information but it will be important for you to get in touch with us either at your regional office in the BC province or us in Lima directly so we go over your company and tailor our support to your specific context TCA funding I mentioned can export there different programs but can export SMEs would be the one that could apply to you more generally speaking it is the largest of the four programs we have the program focuses on export marketing activities of existing products and services in foreign markets it could support exploratory activities as well as activities that contribute toward a long-term strategy to go international so you can have a multi-year project you can have like a single application you can build on previous application etc the important part is you need to apply through the system online and make sure you have like you present a strategy so the program the program helps reduce risk by sharing up to 50 percent of eligible costs and you can include like different markets we are now accepting applications since January 2022 and projects could start in April 2022 the first of April so but you can submit applications all year round it was just suspended for a few months because of COVID but now it's fully open business opportunities improved so I want to spend a few minutes to give you a quick overview of a few key sectors where we see opportunities in Peru you might again not see specific information on your particular sector and it is normal we could not cover all sectors in this presentation but we are available to connect afterwards to review the potential of your company to be successful in Peru with our team of trade commissioners so just a bit of on the current perspective so at the beginning of the the webinar the ambassador referred to our long-term relationship with Peru in his opening remarks we're working on solid foundations that have enabled us to establish a positive relationship over time as you were able to appreciate Canada has been really active in Peru in recent years and we continue to be I need to mention that prior to the COVID-19 crisis Peru had been one of the best economic performers in Latin America over the last 20 years Peru's economic growth was of 4.8 percent average between 2000 and 2019 so this growth was driven mainly by favorable terms of trade and a solid macroeconomic policy the change in the national government recently in July 2021 has led to increased political uncertainty we face constant changes in the government it's the fourth cabinet in seven months now so it makes a little bit of our interventions a little bit more difficult and it can cause delays in sectors where the government is actively involved we see also some repercussions on the investment climate with local and international investors although they remain optimistic right and but they're currently monitoring carefully the situation before making decisions on major investments so it'll be very important for Canadian companies to also monitor this closely and depending on your sector of activities we might see business opportunities impacted by this it could be positive it could be negative however what we see is that to remove the economic recovery appears to be one of the strongest in the South American region the COVID-19 crisis pushed Peruvian GDP into contraction in 2020 for the first time in over a decade it fell by close to 12 percent in 2020 but in 2021 GDP was back to 13 percent it is expected to go back to a more normal level in 2022 with an expected 3 percent so I'll stop there for this current perspective and get to some of the key sectors that we cover where we see business opportunities so in terms of the mining sector so we presented this information in key in four sections so the key facts about the mining sectors it's one of the most important sectors for Peru you can see this by you know the GDP the percentage of Peruvian GDP that is actually coming from mining the total exports 50 60 percent of Peruvian total exports is mining a lot of that great project potential immense potential for more to come a very important Canadian presence in the mining portfolio in terms of opportunities we see mining 4.0 right the artificial intelligence automation digitalization cyber security all of this and we're strong in this in Canada in terms of environmental protection so everything related to environment water wastewater in particular for tailings and energy efficiency as well so some of the challenges that that the mining sector face in the water for sure always like criticize the on the on the usage of water social conflict this is this is common here there's a legacy I mean it's been it's been here for forever but it tends to be challenging and we have to keep that in mind the mine safety which create I think opportunities and the well distribution so the fact that the mining sector benefits benefits some some regions and benefits the population some of the key events that we've we've included here one is happening at the end of April it's a local one in Lima there's always feedback with a huge delegation of Peruvian companies and and authorities it's going to be in June this this year and in Perumen which is the one happening in in Peru in September the one of the most important ones as well in terms of water and wastewater sector I talked a little bit about it related to mining for sure some of the key facts though that you need to be aware of Peru being considered one of the most water stressed countries in the world it's Lima is the world's second largest city located in the desert large disparity in access to water and sanitation services and it is a priority for the government but we need to keep in mind that based on what I mentioned on the on the local government situation and what's happening politically in Peru private sector is also like a very important part of this sector so to to focus on in terms of opportunities we see you know companies local companies looking for new water management technologies and services that are not offered in the in the market or not available in the market everything related to technology software sensors and chemicals integrate integral technical advice desalination equipment etc so again as I mentioned opportunities in the public sector but also in the private sectors to keep that in mind challenges local support and after-sales service is important quality and price are important factors and often you need to certify your technologies to be able to sell them in the market so the key events or mining shows we mentioned are always including a component related to the environment of water and wastewater in particular or treatment of water water treatment I should say Canada at Weftec this is one of the examples I mentioned in a third country so in the US where we have like a huge Canadian company delegation and where we have also Peruvian companies going so it's easy to to meet there and Expo Agua which is one that has been growing it's a local trade show and it's been growing in terms of Canadian participation defense and aerospace sector some of the key facts so we've seen like there's a long lasting relationship and defense between Canada and Peru it is a priority for Peru to improve military in emergency response capacity it is where we see a lot of opportunities in emergency preparedness response and disaster relief we have a lot of those technologies in Canada and defense is really active in humanitarian assistance so this is what they need the most to be well equipped with so we see opportunities in aerial firefighting equipment surveillance raiders submarine maintenance owners also air ambulance and MRO related to the military market the challenges is that they don't necessarily know a lot about Canadian capabilities we're actually working on that but it is always they're always surprised to see what we have in Canada there's a lot of it's it's a bit of a bureaucratic process related to work working with the government and on projects and some of the key events and there's one happening in April at the beginning of April in Chile Fidai where we have a Canadian delegation and we bring Peruvian buyers as well in Cansec in Canada in June among other things the ag sector is also where we see an interesting or interesting opportunities because it is also like a very important sector for Peru it's growing we have a lot of Canadian exporters active in that sector it is an important part of our trade bilateral relationship but it is a price sensitive market so there's a lot of impact when the situation is what it is in the world at the moment it is affected and the prices are up but it doesn't mean that there's no opportunities and there's not we see that there's not a lot of presence in prepared food so we could see opportunities in that so commodities it's a it's a it's a fact the demand is stable and will be maintained prepared products as I mentioned we see more and more available but there's there's space for that and in the sort of held conscious more product type we see an increase in just natural stores and people are more and more sensitive or sensitized to this here so the challenges is that they like their proven food so so that's a that's a very important point to keep in mind the labeling requirement can be a little bit complex to maneuver and there's some ongoing market access discussions on on some of the key products so that's that's something that we need to to keep in mind so the key events there there is a experiment area which is here and as well sometimes in Montreal Toronto I think this year is in Montreal so those are kind of interesting events that you can think of participating to connect with Peruvian delegations. How to do business in Peru so just a few key points here to consider when you start thinking about doing business in Peru so the local presence so working with partners is important so you you complement a little bit the offer and you kind of bring a local someone who can sort of work with you closely Spanish is essential again through your local partner you might have that but you might also want to consider having like Spanish speaker person within your team to help with those those things the the importance of building a relationship this is very common in Latin America the importance of building a relationship before getting into a business relationship you have to be ready to invest in time in in money with your your your team as well be knowledgeable of local business practices and market characteristics I think it is important in all markets you decide to develop to understand how it works here quality and price are important deciding factors and then the last one is to leverage trade commissure service we're here to help you understand and navigate this environment so connect with us there's a huge trade ecosystem in Canada you see all the different partners federal provincial territorial even the municipalities are involved in in trade in international trade nowadays and you have all kinds of different other trade related organizations so that bridge your this network and with us the regional offices as I mentioned previously there's an office in British Columbia in Yukon it would be sort of your first stop I would think and then obviously you talk to us we're we're in Lima we have the team of five trade commissioners this is here on the slide please contact us follow us on uh linkedin on uh on twitter on on facebook the trade commissioner service is is available there and then some additional information I wanted to mention the can export website to have access to this um the support and then some of the key step-by-step guide to exporting to prepare carefully your your to sort of work on a project for for exporting and to prepare yourself carefully for international markets so I'll stop there I was really happy to to be able to present to you today and thank you very much again please don't hesitate to be in touch with us we would be pleased to help you with with your project in Peru thank you Anup for this comprehensive presentation on trade commissioner service offers in Peru the services that you provide to Canadian companies and for highlighting some of the sectors and opportunities of interest to to bc companies and a handful tips on business etiquette I'm now pleased to hand it over to Roberto from EDC for his presentation on Canada's expert credit agency and Roberto will work us through what expert development Canada is what supported offers to companies like you and some success stories of Canadian companies in the proven market using EDC services Roberto the floor is yours hello everyone my name is Roberto Rokejo I'm the associate regional manager for the Andean region at export development Canada in Peru and first of all I would like to thank the government of British Columbia for the opportunity to be able to be here today and tell you a little bit more about what EDC is doing in Peru and how we can help you grow internationally so first of all I'm going to be talking about export development Canada so we are Canada's expert credit agency and for over 75 years we've been helping Canadian companies navigate manage and take on risk enabling them to grow and succeed in global markets our purpose is to make Canada and the world better through trade so for this reason our mission is that we use our unique trade knowledge and financial solutions to develop trade opportunities between Canada and other countries and with this we enhance Canada's competitiveness in the international marketplace we like to call ourselves the international risk experts because we're here to help you mitigate risk our unique knowledge of international trade and global buyers enable us to take on and manage significance levels of risk to tell you a little bit more about our solutions we're here and we equip Canadian companies businesses with the tools they need to grow their business with confidence and with this we can help you through financing as we can help Canadian companies get access to capital with our insurance we offer protections that lower the risk for Canadian companies doing business beyond our borders one of our main products here is the accounts receivables insurance that make sure that you get paid when exporting to a different country also the knowledge is extremely important we provide expertise that enables our customers to make informed decisions and learn more about international markets this is something extremely important because sometimes we don't know how to do business in a particular region so the knowledge part is key in order to be successful when doing international businesses so I would encourage you to visit edc.ca visit our trade insights website and there you can find a lot of pieces of knowledge regarding different regions and finally with connections we connect Canadian companies and international buyers to help them both grow one of our main products here some programs is the business connections programs which basically helps basically how this works is that we finance an international buyer with the purpose that they can use that money to buy from Canada and through the tenor of the financing we understand the buyer's needs and we find Canadian companies that can satisfy those needs so we do the connections and we expect to create a contract with in the near future so this is a little bit of how it works in terms of connections and something that we currently are doing in Peru in terms of where you can finance in Canada you can see us that we have offices in Montreal from coast to coast we are we have offices in Montreal we have offices in like Biltz and Rinalon we're in Ottawa we're in Toronto but you can also finance in Vancouver we have an office in Vancouver in British Columbia that is ready to help you so please feel free to contact them they're a great team that is able to talk to you and see what solutions could fit best for you and according to your needs also we have 20 offices around the world you can find us in all pretty much all around the world in Asia Africa Europe and the America my office here covers the Andean region where we covered Colombia Peru Ecuador Bolivia also Central America and the Caribbean to tell you a little bit more about what we're doing in Peru Peru despite the recent political instability Peru has robust micro economy institutions that are strongly favored business friendly policies the country offers opportunities in many sectors significant investments in infrastructure and technology are specifically essential for Peru to maintain growth and improve social welfare the Canada Peru Free Trade Agreement is further has further strengthened and well established and growing trade and investment relationship in the recent years so this has enabled Canada to become a top foreign investor in the mining sector export development Canada has a representation office in Lima where I'm one of the representatives and to tell you a little bit more what we have done in terms of financial highlights in 2021 we generated a business volume of nine hundred and sixty four million dollars just in financing we finance two hundred and fifty six million and we have searched two hundred and sixty four customers in terms of the sectors the extractive sector is extremely important but regarding the business volume it's also good to highlight the infrastructure and environmental is is very big followed by the live manufacturing sector as you can see 2020 we didn't do much financing it was mostly insurance but in 2021 we're seeing the economy recovery we're seeing more financial opportunities and we expect 2022 to even be bigger than in terms of business volume for later this year in terms of the customer sector we can see that most of them come from the live manufacturing sector followed by infrastructure and environment and also very important in the extractive and resources sectors in Peru we work with the most prestigious international buyers so Cetro Verde is one of our clients we finance their expansion project and we've been working with them they're one of the most important copper exporters and producers we also have Minsur also they have a copper mine they just we finance their their project called Mina Justa which is one of the newest mines in Peru and we also work with Grupo Energía de Bogotá where we finance the company Contugas basically what we how we work with then is that we meet with them regularly to understand their needs and once we find opportunities for them we introduce them to Canadian exporters that could satisfy those needs to generate trade between Canada and Peru so the idea is that with all of those connections that we generate they can start buying from Canada more and more and we can also help them satisfy their unique needs one of the things that I like to highlight is that our knowledge and network are here for you what we have realized at EDC is that the knowledge part is very important through our offices we have a lot of professionals that can provide a lot of business tips they can provide their expertise for this reason we have created new products and one of them is called our social media series where we have videos about all around the world in how to do businesses in the region in the market trends so please make sure you're following us in all of our social media platforms we have also generated different business guides not only for Peru but also for Latin America for Africa and for other countries that you can find online at edc.ca so please I would encourage you to create an account on my edc.ca and so that you can have access to all of this information and finally we also have a podcast that has nine episodes about trends in trade and you can find that on Spotify or also on my edc.ca we have useful information there also about how to do business internationally so all of these products are made for Canadian exporters so please have a look at them you'll be having a copy of these presentations where you will have the links to those so make sure you have a look at them and finally this is our contact information in case you require any additional information please feel free to contact us and we're here to help you thanks a lot thank you Roberto for this great overview I'm sure we'll be getting lots of follow-up questions regarding financing and insurance products you provide to companies doing business internationally and this presentation concludes this webinar doing business in Peru if you have any questions to any of the panelists please get in touch with us using the contact details that we shared in our slides and on behalf of BC government and our panelists thank you for listening