Andina

Peru - China Free Trade Agreement increased commerce between both nations

LIMA, PERÚ - SETIEMBRE 01. Juan Carlos Capuñay nuevo embajador del Perú en China. Foto: ANDINA/Juan Carlos Guzmán Negrini.

LIMA, PERÚ - SETIEMBRE 01. Juan Carlos Capuñay nuevo embajador del Perú en China. Foto: ANDINA/Juan Carlos Guzmán Negrini.

16:20 | Beijing, Nov. 07.

The Free Trade Agreement (FTA), inked by both countries in 2010, enabled to bolster Peru’s exports to the Asian nation.

Peruvian exports are expected to rise from US$ 9,000 million, registered in 2008, to US$16,000 million by the end of the current year, assured the nation’s Ambassador to China, Juan Carlos Capuñay.

In 2013, they amounted US$ 15,300 million despite an ongoing world economic crisis, he noted.

The forecasted result has been considered to be “of merit” by the Peru’s top official appointed to China.

Also, the Ambassador told Andina news agency that Chinese investments make up 34% of the total mining investments in Peru. The chart confirms China is the main investor in the sector.

Furthermore, he highlighted the presence of the Industrial and Commercial Bank of China (ICBC) in Lima, which turns the city into one of its main financial markets.

Peru is expected to become China’s largest grapes supplier, said Capuñay.

On Monday, President Ollanta Humala is scheduled to take part in the 22nd APEC Economic Leaders' Meeting (AELM). On Wednesday Humala will begin a working visit in the nation, which includes a meeting with his Chinese counterpart, Xi Jinping.

(END) EGZ/FHG/MVB

Published: 11/7/2014