13:44 | Beijing (China), Sep. 11.
Commerce between Peru and China has quadrupled since the coming into force of the Free Trade Agreement (FTA) in 2010, said Juan Carlos Capuñay, Peruvian Ambassador to the Asian nation.
“Peru-China FTA is way beneficial and has prompted both countries to expand trade and business,” the diplomat was quoted as saying by Andina news agency.
Prior to the FTA implementation, Peru-China exchange used to reach US$4 billion, but trade size increased significantly once the agreement was signed, reaching up to US$16 billion last year.
Diplomatic relations with China have entered a period of bilateral trade deepening after the FTA implementation.
“Nowadays, China is the largest trading partner of our country,” he emphasized.
The FTA entry into force has greatly increased the volume of Peruvian exports to China.
In 2014, Chinese exports totaled more than US$7 billion, driven by agriculture, fisheries, iron and steel, and mining sectors’ dynamism.
Copper ores and concentrates became the main export product, which accounted for 48.6% of China’s total export value.
The principal non-traditional exports included, among others, grapes, seaweed, wood, alpaca-related products and cuttlefish.
Capuñay attended the Road Show Asia 2015 carried out at Park Hyatt Beijing in the presence of a large group of Chinese businessmen.