January 19, 2012 by Andean Air Mail & PERUVIAN TIMES

Sales at Peruvian malls are expected to rise about 12 percent this year to $4.7 billion from $4.2 billion in 2011, according to the head of the Peruvian association of malls (ACCEP), Gonzalo Anzola.

“The projection for growth for malls is really soaring and we calculate that in two or threeyears we should pass from 45 to 80 or 100 malls in Lima and the provinces,” daily Peru.21 reported Anzola saying.

In 2000, there were seven malls in Peru, with six of them located in the capital,Lima. A large number of the malls have been developed by the Brescia, Interbank and Romero groups.

Although there are few cities with more than 200,000 inhabitants in Peru’s Amazonian jungle, and the logistics of transport are difficult, Anzola said that investment developers are studying the possibility of opening malls in cities such as Pucallpa, Tingo Maria and Iquitos.

Anzola said that going forward, the forecast for growth will remain strong as there is still relatively little access in the population. Currently, there is an average of about one mall in Peru for every million residents, compared to an average of 2.1 in Latin America.

January 17, 2012 by Andean Air Mail & PERUVIAN TIMES ·

The average salary of workers in Peru’s capital, Lima, increased 13.3 percent in the last quarter of 2011 versus the year-ago period, the National Statistics Institute, INEI, said on Monday.

The average wage was 1,274.8 soles (approximately $473) a month in the fourth quarter of 2011, which represents an increase of 149.5 soles from the fourth quarter of 2010, state news agency Andina reported.

The average salary among men was 1,493.9 soles, while for women it was 991.5soles, INEI said.

The age group with the biggest boost in salaries was that of 45 years and older, which saw its wages increase on average by 17.7 percent.

Workers between 25 and 44 years old saw a 11.6 percent increase, while those between 14 and 24 years old saw a 10.7 percent rise

 July 21, 2011 [ 15:47 ]

Third Global Review of Aid for Trade, in Geneva (Photo: Andina)

The World Trade Organization (WTO) Thursday praised Peru's trade policy saying it is a model country in Latin America which has benefited from trade as a tool for development, proverty reduction, and employment growth, according to Peru's Ministry of Foreign Trade and Tourism (Mincetur).

The recognition was made during the Third Global Review of Aid for Trade, which took place on July 18-19 in Geneva, aimed to evaluate the six-year-old initiative’s progress in helping developing countries build their trade capacity.

The international body said Peru has undertaken important trade reforms and signed a number of FTA pacts since the 1990s.

For this review, Mincetur submitted three cases of study and a list of questions for Peru, which were included in the report "FTA at a Glance 2011” and attracted WTO's attention.

The WTO also praised Chin, which in the past decade has signed free-trade pacts with more than ten nations and regions in the world, including Peru, Pakistan, Chile, Singapore and New Zealand.

The report encourages members to consolidate multilateral trading systems while setting up free-trade areas. In the meantime, it says relevant rules should also be clarified so as to provide a better environment for FTA development.

Every year, the WTO releases a report after conducting in-depth research into world trade and trade policies. The annual World Trade Report 2011 looked at FTA development and said WTO members have made huge efforts to set up free-trade areas.