Andina

Peru-China trade expanded 9% annually since 2010

09:00 | Lima, Jun. 1.

Trade between Peru and China has posted an annual average growth rate of 9% since the Free Trade Agreement entered into force in 2010, Foreign Trade and Tourism Minister Edgar Vasquez informed.

Likewise, the official underlined the Asian country has been Peru's largest trading partner for seven years since 2010, five of them in a row, amounting to US$23 billion. 

"A historical record was reached in 2018, since Peruvian exports expanded 14%. Of note was the 17% rise of non-traditional exports, which remain the lowest in percentage terms, but whose future potential is higher," he expressed. 

"It is a market that has not been fully exploited nor adequately explored," the Minister added. 

Furthermore, Vasquez pointed out the Inca nation's imports from China increased 13% in 2018. 

Moreover, he noted the Asian giant is the biggest potential market in the world. 

Remarks were made during the international conference "China's Belt and Road initiative and Peru," organized by Lima-based Pacifico University.

(END) CNA/DTK/RMB

Published: 6/1/2019
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