China has remained Peru’s top trading partner for 11 consecutive years, reflecting the dynamism of exports and imports since the Free Trade Agreement (FTA) between the two nations came into effect,
"China has been Peru's largest trading partner for 11 consecutive years. Taking this year as an example, from January to July, trade volume between both countries reached $26.682 billion, with a year-on-year growth of 21.6%, accounting for 32.6% of Peru's total foreign trade," he stated.
The diplomat emphasized that both nations are good friends and partners, with a commercial relationship that benefits them, especially since the FTA came into effect in 2010.
"We treat each other equally and share significant benefits. Since the signing of the FTA, bilateral trade has grown steadily and firmly," he noted.
During the "Outlook for the Government's Final Stretch" event, organized by the Peruvian-Chinese Chamber of Commerce (Capechi), Ambassador Song Yang highlighted the host country's economic figures.
"According to the latest data from the Ministry of Economy and Finance, Peru's GDP grew 3.41% in July, maintaining 16 consecutive months of positive growth, reflecting the strong resilience and broad potential of the Peruvian economy," the envoy indicated.
"Additionally, Congress approved, with a wide majority, the Law on Private Special Economic Zones, a visionary strategy that will further optimize the business environment. It is open and inclusive, injecting new energy into Peru to attract investment, industrial modernization, and coordinated regional development," he concluded.