Peruvian President Highlights Strategic Partnership With China

Peruvian President Pedro Castillo today highlighted the strategic partnership between his country and China after the impact of the COVID-19 pandemic.

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“China is a strategic partner for Peru in terms of trade and investment. We express our willingness to continue strengthening economic and trade relations,” he said in a message to the Canton Fair being held in China.

Among the milestones of that relationship, Castillo highlighted the validity, since 2010, of the bilateral trade agreement that allowed establishing a relevant legal framework to improve the exchange of products and services as well as trade and investment.

China is the main destination for Peruvian exports and the main supplier of products that Peru imports, Castillo said, underlining that the value of bilateral trade exchange reached more than $22 billion in 2020.

“And even despite the effects of the pandemic, in 2021 we observe a notorious recovery of our bilateral trade flows, which, as of the first half of the year, surpassed 14 billion dollars,” he added.

According to President Castillo, Peru-China trade generates greater opportunities for economic growth to the benefit of both countries.

In addition, the exchange “results in improving the quality of life of the population and at the same time it is an important means of sharing knowledge, technology, and culture and strengthens the bonds of friendship between the peoples,” said the president.