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Peru, China to sign MoU on Belt and Road initiative

11:24 | Beijing (China), Apr. 25.

Peru and China will sign a memorandum of understanding (MoU) aimed at implementing the Belt and Road initiative, Foreign Trade and Tourism Minister Edgar Vasquez informed Thursday.

The signing will take place in Beijing within the framework of the Second Belt and Road Forum for International Cooperation

According to the official, the agreement formalizes the Inca country's intention to participate in this international project with the purpose of improving physical and virtual connectivity with the Asian giant. 

Likewise, he said, Peru is interested in improving infrastructure investment, which in turn will improve the efficiency of maritime and air connectivity, as well as e-commerce and the development of optical fiber infrastructure. 

Airline and sea routes 

On the other hand, Minister Vasquez recalled that Peru has been looking —for years— for a Chinese airline operating permanent cargo flights to reduce international trade costs and explore maritime routes to South America. 

"Participating in this project marks another step in the strong relationship between Peru and China," the official expressed. 

Chinese investments 

It should be noted the Inca country is the second major destination for Chinese investments in Latin America. Plus, it plays a fundamental role in terms of connectivity, friendship, and history. 

"Since 2014, China is the main trade partner of Peru. Last year, the commercial exchange amounted to over US$23 billion, a historical record in bilateral trade, and there is a great challenge to increase added-value exports," he said. 

(END) VVS/CVC/DTK/RMB/MVB

Published: 4/25/2019
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