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Comprehensive strategic partnership underlines relations between China and Peru


11-22-2016 03:27 BJT

Full coverage: Xi Visits Ecuador, Peru and Chile, Attends APEC Summit

This year marks the 45th anniversary of diplomatic ties between China and Peru. The two countries have a comprehensive strategic partnership, the highest level of relations between China and Latin American countries.

China has been Peru's largest trading partner, export market and source of imports for years, and Peru has become one of the top destinations in Latin America for Chinese investment. The China-Peru Free Trade Agreement, officially ratified in December 2009, went into effect in March 2010.

In recent years, bilateral trade has remained on an upward trajectory, hitting a record level of nearly 15 billion US dollars in 2015. In the first eight months of this year, trade grew by 9 percent year-on-year, outpaced by growth of more than 20 percent in Peruvian exports to China.

Chinese investments in Peru have been wide-ranging, covering mining, fossil fuels, infrastructure, financial services and more. Over 170 Chinese businesses have invested more than 14 billion dollars in Peru, helping to create tens of thousands of jobs and new sources of tax revenue for local communities.

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