Deputy Foreign Trade Minister Edgar Vasquez affirmed trade war between the U.S. and China will have a minor impact on Peru due to its diversified economy.
"We have the capability to diversify both our destinations —through the negotiation of free trade agreements— and our products in a meaningful way," Vasquez stated.
According to Vasquez, the bilateral trade (exports
and imports) increased by 22% in 2017.
As stated by Foreign Trade and Tourism Ministry (Mincetur), Peruvian exports to China
have expanded 17.7% between January and July 2018 and are expected to exceed US$50 billion this year, of which US$13 billion will be non-traditional
"Bilateral trade with China is recovering expeditiously. Last year, the country saw a significant increase, and this year we are experiencing a fairly dynamic growth too," Vasquez pointed out.
According to the government official, a long-term negative impact on Peruvian economy is not foreseeable since Peru-China relations are not only based on commodities like mining
and fishmeal, but an important expansion of non-traditional products
"We are preparing the inclusion of these products in the export basket to China, and that's the path we want to further deepen
," he stated.