Natural Resource Governance Institute

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We decided to investigate a particular case of this phenomenon: Skip to main content. You are here Home Blog. While a superficial look at customs data might lead one to think that such illicit maneuvers were happening, our investigation found out that it was not the case. The recent debates around the methodology and the conclusions of the Trade Misinvoicing in Primary Commodities in Developing Countries UNCTAD report have shown that academics can be misguided by customs data on commodities.

We think our step-by-step methodology could be useful to other researchers. We focused our investigation on the two biggest gold mines in Peru, Yanacocha and Lagunas Norte. Switzerland was the main destination for these exports: We then used Swiss Customs Administration data to confirm that gold from Yanacocha and Barrick also entered Switzerland below market prices.

Figure 1 shows that other gold natural peru trading limited in Peru exported their gold at an average natural peru trading limited that was much closer to international prices. We continued our investigation and interviewed experts from the Peruvian Ministry of Energy and Mines.

Natural peru trading limited told us that Peru exported gold in two forms: These bars typically contain about 80 percent pure gold, but natural peru trading limited as little as 35 percent. What we call refined gold is at least The other producers export refined gold. Fortunately, this proportion is mentioned in detail in Peruvian Ministry of Energy and Mines statistics. Our results for Yanacocha and Barrick Gold are very similar and both can be downloaded here. In column 6, we estimated total sales in U.

Small differences between columns 7 and 10 3 to 5 percent, in column 11 can be attributed to price differentials and export registration date lags. We concluded that Yanacocha and Natural peru trading limited had not mispriced their gold exports from Peru. The risk of confusion stems from the use of a single HS code to designate both refined gold From this experience, we developed a set of recommendations: Other researchers using customs data to try and identify mispricing of commodity exports should take into account how the different commodities are coded, and, in particular, the varying levels of quality within a single product code.

We hope this experience will be useful to others. We believe that it is important to monitor potential tax avoidance of mining companies. Alex TilleyDavid Manley. Thursday, June 25, - Marie LintzerChristina Tecson.

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Thailand and Peru established diplomatic relations in Bilateral relations between the two countries continued without any difficulty, though official and business contacts were limited at that time.

For example, the bilateral trade volume was relatively low. Therefore, the Peruvian Government, in , inaugurated its embassy in Bangkok to promote bilateral relations, particularly in the fields of economic cooperation and trade, as both countries are members of Pacific Rim Countries.

Since , the exchange of visits at all levels has been remarkably increased. On Peruvian part, former President Alberto Fujimori visited Thailand in and , and former President Alejandro Toledo paid a visit to Thailand in , respectively. At the ministerial level, H. On 2 December , the Thai Government officially opened the Royal Thai Embassy in Lima to serve as the contact point to enhance Thailand-Peru relations as well as Thailand and Andean Community relations, considering that Peru can be an economic partner as well as a gateway to Latin America Region for Thailand in the long run.

The overall picture of the closer relationship between Thailand and Peru reflected in the increase of values of bilateral trade. In late , both sides signed the Protocol to accelerate trade liberalization and facilitate trade between Thailand and Peru Early Harvest.

However, for the FTA to come into force fully, the two countries shall continue to negotiate further in details. Thai exports to Peru are, i. Peruvian imports to Thailand are minerals metal ore , animals and products from animals, aquatic animals fresh, chilled, frozen or processed , chemicals, fabrics, vegetables and fruits. Investment between Thailand and Peru is relatively low.

This may be due to the huge geographical distance between them and the number of Thai people living in Peru and the Peruvian people residing in Thailand are very few. Moreover, the business norms of investors of both countries are similar in that they do not prefer to invest in foreign countries which are far away from their home land.

The company had intended to use Thailand as a hub for manufacturing products to be distributed and sold in the region. Hitherto, the governments of both countries had tried to find ways and opportunities in promoting investments between their respective countries and each expects the other to be the gateway to neighboring countries and strategic partnership.

Thailand has a readiness in the areas of infrastructures, communication system, transportation as well as having a clear policy in promoting trade and investment and liberalized law and regulations on investment. Furthermore, Thailand has played active roles in international arenas, in political, economic and social aspects, allowing Thailand to be a partner and political alliance to push forward policies of common interest and to create bargaining power in the matters of the mutual benefits of developing countries.

Besides, Peru is a country endowed with abundant natural resources; for example, the important minerals Peru produces are steel, gold and copper, silver, zinc, lead, petroleum, natural gas, lumber and marine resources.

In and , the Peruvian side invited Thai business men to invest in many areas, namely: Thai food restaurant, 3. In the framework of cultural relations, both sides have been promoting contacts at people to people level.

On 17 February , Dusithani College and Le Gordon Bleu Peru Institute signed a Memorandum of Understanding on the Promotion of Cooperation between the two Institutes; the two institutes have carried out the project of exchanging chefs between each other. In addition, Thailand and Peru are in the process of negotiating an agreement on cooperation on museology and museography and MOU in the fields of protection and the return of cultural, archaeological, artistic and historical properties.

Thailand and Peru have cooperated closely with each other in various international forums. Under the framework of FEALAC, various training scholarships will be provided for member countries on a regular basis.

Thailand, therefore, offers scholarships in the training courses of Tourism Management and Hotel Management to Peruvian candidates, exclusively. The relationship between Thailand and Peru tends to become closer consistently because such relationship is based on a firm basis together with supporting factors from various dimensions such as political will and economic necessities.

Moreover, the two countries put an emphasis on the policy to cooperate with other countries and to actively participate in international forums as well as to enhance the connectivity between East Asia and Latin America. The two sides shall continue to carry on further the negotiations on various agreements and the existing cooperation of which the groundwork has been earlier paved way for.

Take for example, the negotiations on FTA, agreement on energy cooperation, as well as agreements in the fields of economic, technical and cultural cooperation.

In particular, Peru is interested to learn from the Royal Projects, especially, the alternative economics for a sustainable development. In this connection, the diplomatic missions of Thailand and Peru will continue to play active roles in forging even closer ties between the two countries.

At present, the Royal Thai Embassy has been working hard to coordinate with the Peruvian governmental agencies and private sector with a view to strengthening the bilateral relations and cooperation between Thailand and Peru, especially in the fields of economic cooperation and trade.

In addition, the Embassy has disseminated information about Thailand to the people in Peru and those in other countries to which the Embassy is accredited Bolivia, Colombia, Ecuador and Venezuela. On the other hand, the Embassy is also providing information about Peru to the Thai people.

To promote the bilateral contact at people to people level, the Royal Thai Embassy has recently facilitated the visit to Peru of the Thai academics to meet with their counterparts in order to collect first-hand information about Peru with the aim to build a body of knowledge for the Peruvian Studies and Latin America Studies.

Bilateral relations between Thailand and Peru. Diplomatic Relations Thailand and Peru established diplomatic relations in Exchange of Visits Since , the exchange of visits at all levels has been remarkably increased. Economic and Trade Relations The overall picture of the closer relationship between Thailand and Peru reflected in the increase of values of bilateral trade. Investment Promotion Investment between Thailand and Peru is relatively low.

Cultural Cooperation In the framework of cultural relations, both sides have been promoting contacts at people to people level. Multilateral Cooperation Thailand and Peru have cooperated closely with each other in various international forums. Looking Forward The relationship between Thailand and Peru tends to become closer consistently because such relationship is based on a firm basis together with supporting factors from various dimensions such as political will and economic necessities.

Assistance for Earthquake in Ecuador. Media delegation from Peru, Colombia and Ecuador visit Thailand. Business delegations from Peru, Colombia and Ecuador visit Thailand.