As a leader in the global mining industry, the Peruvian market holds a lot of promise. For mining companies looking to do business in the region, here are some helpful tips from Export Development Canada’s (EDC) representatives in the region.
“The Peruvian market is mature. The mining companies are looking for 24/7 service, which means they want their suppliers to have a presence in Peru. They cannot service a mining company from Sudbury, Chicoutimi or Val Dor. They have to be on the ground in one form or another,” says Stephen Benoit, Chief Representative of the Andean Region at EDC.
But presence is not the only factor. “Companies have to inform themselves about the market, the potential for their products and existing competitors. If there is a potential for their goods, exporters will need to commit on a long term to the market. They shouldn’t expect to close a deal immediately. Companies will have to establish personal contacts first, speak the language, exercise due diligence, and be diligent with all aspects of corporate social responsibility (CSR). These are all factors that will be essential to their success,” says Rafael Castillo, Regional Manager in Lima at EDC.
As long as companies do their homework, there are good sales prospects in Peru, especially for suppliers offering efficient products and capabilities in underground and open pit mines. Combined with matchmaking, those prospects become even better.
Have you considered the Peruvian market?
Get in touch with Canada’s Trade Commissioner in Peru or Stephen Benoit from EDC for more insight and resources to help you get started.
For more information on the Extemin 2015 matchmaking event, read Match Your Way into Peruvian Mines.