Politics
China and Peru have completed “substantial negotiations” to modernize their free trade agreement
BEIJING, July 15 (Xinhua) — China and Peru have reached a “substantial conclusion of negotiations” on upgrading a free trade agreement between the two countries, Chinese state media reported Friday.
During a meeting with Peruvian President Dina Boluarte in Beijing, President Xi Jinping said the two sides should coordinate and promote cooperation in areas such as minerals, energy, manufacturing, agriculture and others, state broadcaster CCTV reported.
Peru and China signed a free trade agreement in 2009, which helped the South American nation increase its exports.
The Peruvian press office reported that Boluarte and Xi also signed a series of agreements to strengthen ties, including one on Peruvian grape exports to China, and a memorandum of understanding establishing a Peruvian business council- Chinese.
China is Peru's largest investor and the largest market for Peru's copper, the world's third largest producer of the red metal.
“China's interest in key sectors of the Peruvian economy, such as mining, infrastructure and energy, is fundamental to national development plans, while ongoing investments are a source of jobs and a promise of progress,” Boluarte said in a statement from his office.
Visiting China this week, Boluarte met with leaders of several companies as well as Xi Jinping, whom she invited to inaugurate in November the “megaport” of Chancay, built on the Peruvian coast by the Chinese company Cosco Shipping.
Xi is expected to travel to Peru in November for the leaders' summit of the Asia-Pacific Economic Cooperation (APEC), a bloc that accounts for nearly half of world trade. REUTERS
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