From President Alejandro Toledo

The visit of President George W. Bush to Peru on March 23 is a historic opportunity to strengthen the Peruvian-American partnership. We believe this first-ever visit by an American President to our country will usher in a new era of bilateral friendship and cooperation that runs from trade and investment through tourism to the global fight against terrorism.

President Toledo

Peru has just come through one of its darkest moments. Only the tenacity and determination of its people put the country back on the democratic path. Now, with the democratic rights to its citizens fully re-established, we can truly say that Peru has begun its renaissance.

You can see this new vitality in the determination of Peruvians to build a just and dignified tomorrow for all. The courage that served before to bring down a dictatorship is now the driving force to create one of the main hubs of development in Latin America.

The country has emerged from a prolonged economic recession, rooted in a political crisis that for several years shrouded us in uncertainty. That is why, after only a few months of my administration, we can already see the first macroeconomic indicators signalling a process of expansion, albeit an expansion grounded in rigorous fiscal and monetary discipline.

With economic variables in order, a process of sustained growth is now beginning that, according to some analysts, will give Peru the highest growth rate of any country in the region for 2002.

But for us this is only a start. Our macroeconomic policies for the next few years aim to establish a clear process of development that will give all Peruvians the ability to enjoy the benefits of a virtuous cycle, and raise their standards of living year by year.

We cannot make this effort alone, nor do we wish to. We look to the world of international investors to come to Peru and build this future together with us.

We have vast natural resources of minerals, fisheries and farmlands. What is more, we have an able and enthusiastic workforce that has given the best of itself to solve the recent troubles and is now ready to put all its energy into production. Moreover, we are determined to provide the needed political, economic, social and legal stability, as well as security and clear and transparent rules of the game, for foreign and domestic investors alike.

We guarantee the respect of private property, the free availability of foreign exchange and the repatriation of profits.

At the same time, we are intent on promoting our competitive sectors, where Peru offers enormous comparative advantages in natural resources, geographical location and labor force.

Regional integration is under way to open up wider markets, and Peru is playing a leading role in this process. We want to make sure foreign investors know that Peru can be a regional business center, a platform for exports to other regions — the U.S. as well as Asia and the Pacific — and a preferred base from which to work with the countries of the Andean Community.

I extend an official as well as a personal invitation to those who do not yet know us to visit our country and discover the opportunities we offer, from tourism to investment. For those who do know us, please look at Peru anew.