Peru-China Free Trade Agreement: A 50% Boost in Commerce Looms with New Deal

Peru and China are set to sign an updated free-trade agreement, expected to increase commerce by 50% between the countries. During Chinese President Xi Jinping's visit, 400 business delegates will explore investment opportunities in Peru's infrastructure and technology sectors. The agreement updates a 2009 deal, emphasizing cooperation and economic growth.

Peru is poised to sign an updated free-trade agreement with China during President Xi Jinping's visit to the South American nation. This deal, as indicated by Peru's foreign minister, aims to boost trade by at least 50%.

The signatories will also tackle 30 additional agreements to enhance bilateral cooperation. Last year's trade figures between the countries reached nearly $36 billion, underscoring China's role as Peru's principal trading partner.

Chinese interests in Peruvian infrastructure and mining projects are sizable, marked by investments in projects like the Chancay mega port. President Jinping's visit features a delegation of 400 business leaders eyeing Peru's booming sectors.

(With inputs from agencies.)