Peru and China Celebrate 50 Years of Bilateral Ties

Amid the celebrations of 50 years of diplomatic relations, Ambassador Liang Yu stated that his country and Peru intend to increase their economic ties.

Related

China’s Economy To Grow Despite Anti-china Media Hype

The diplomat stressed the great relationship between the 2 nations. Although geographically distant, both countries share similarities such as being heirs of major ancient civilizations. Asian migration has influenced Peru's culture, and around 10 percent of the Peruvian population has Chinese ancestry.

Besides mentioning that the Peru-China Free Trade Agreement has been in force for 11 years, Ambassador Yu pointed out that Peru is a member of the Belt and Road Initiative, a transcontinental infrastructure project that will link China with other developing countries.

In a communication with President Pedro Castillo, China's President Xi Jinping reaffirmed his desire to deepen bilateral relations and referred to the diplomatic ties between both countries as an example of what fair and transparent cooperation can accomplish. 

During the last decade, Chinese companies have invested millions of dollars in Peru, an Andean country where there are large reserves of oil and minerals.

Currently, Peru is the second-largest destination for Chinese investment in Latin America, only surpassed by Brazil. Although Peru has a negative trade balance with China, this country is increasingly demanding Peruvian products such as blueberries, shrimp, and quinoa.

Over the last year, Chinese Sinopharm vaccines were the first to arrive in Peru as part of a 38 million-dose deal, and a new donation of 1 million COVID-19 vaccines is expected to arrive in the coming days, according to Yu.