Andina

Peru's trade with China up 20% since FTA took effect

Photo:ANDINA/Oscar Farje Gomero.

Photo:ANDINA/Oscar Farje Gomero.

13:24 | Lima, May 18.

Trade between Peru and China has surged 20% over the last four years, since the two countries' bilateral Free Trade Agreement (FTA) took effect in 2009, the Minister of Foreign Trade and Tourism, Magali Silva said.
Mincetur's head pointed out that this agreement has allowed that the two-way trade between Peru and the Asian country touched US$5.7 billion in 2013.

Silva made these remarks during her participation at the Minister Responsible for Trade (MRT) meeting of the Asia-Pacific Economic Cooperation (APEC), held in the city of Qingdao, China from May 17-18.

The meeting addressed topics including regional economic integration; promoting innovative development, economic reform and growth; and strengthening comprehensive connectivity and infrastructure development.

Another issue discussed was how to provide more opportunities to small and medium enterprises (SMEs) so they can better exploit the benefits of international trade through global value chains

Peru mainly exports to the Asian nation minerals, especially iron and copper, which accounts for 84% of the total sent to Asian nation. 

Peruvian purchases from China have focused on manufactured products such as computers, telecommunication equipment, clothes, shoes, electronic products, motor bikes and motors.

(END) DOP/DLG



Published: 5/18/2014