To promote the Port of Long Beach as a conduit of trade between Latin America and the United States, Port of Long Beach officials recently attended the 20th Annual Latin American Congress of Ports in Lima, Peru. The Long Beach The delegation met with government officials from Chile, Peru, Panama, Ecuador and Guatemala, as well as business representatives from those countries.
“Latin America is an emerging trade partner for the City of Long Beach and the greater region, and we feel the Port of Long Beach can help that potential be realized,” says Long Beach Harbor Commissioner Thomas Fields. “Latin America has experienced impressive economic growth, and it’s important to build relationships not only in Asia, but also in Latin America.”
The Long Beach delegation toured the Port of Callao, Peru’s largest seaport. According to the International Monetary Fund, Latin America’s economic growth remains “robust” after last year’s 6 percent growth, with another 4.5 percent growth expected this year. Peru is expected to grow by 6.6 percent this year and 5.9 percent in 2012.
While trade with Latin America accounts for a small percentage of the port’s annual trade volume, officials hope to tap into emerging markets to boost future trade. The trip to the Latin American Congress of Ports was the Port of Long Beach’s latest effort to build and maintain ties with that region.
Last December, the Port of Long Beach and the Panama Canal Authority agreed to a series of efforts to promote more trade between Latin America and the United States. The organizations signed a Memorandum of Understanding, agreeing to exchange ideas and knowledge on marketing, engineering, dredging technology and environmental practices.