17:44 | Lima, Oct. 07 (ANDINA).
Peruvian President Ollanta Humala held a one-on-one meeting with the leader of the Republic of Korea Park Geun-hye on the sidelines of the annual summit of Pacific Rim economies in Bali, Indonesia.
Peru and South Korea has build comprehensive ties as a result of diplomatic relations which in 2013 marks 50 years of its establishment and by which official contact has remained constant.
The strengthening of friendship bonds between both nations is carried out on the basis of common interests and to consolidate greater political cooperation and a special relationship in the economic and trade sphere.
Peru is the main receptor of Korean technical cooperation and it is considered by the Southeast Asian country as leading market with favorable environment for investment in which its larger firms can make business.
Since 2011, both states maintain into force a free trade agreement which has boosted economic and trade relations. Likewise, this mecanism has promoted the diversification of Peruvian products in the Korean market.
On the occasion of the official visit of President Humala to Seoul in May 2012, Peru and South Korea signed the declaration of strategic partnership, bringing bilateral relations to a preference level.
More than 10 leaders from APEC economies have touched down on the resort island of Bali for the annual informal economic leaders ' meeting, the highest-level meeting of the regional group.