China signs new trade deals with Peru

The Myanmar Times - - International Business -

CHINA’S Pres­i­dent Xi Jin­ping has signed new trade deals with Peru, one of its part­ners in its drive to boost world trade in the face of pro­tec­tion­ist stir­rings.

A day af­ter tak­ing part in the APEC Asia-Pa­cific trade sum­mit, Mr Xi made a for­mal visit on Novem­ber 21 to the host na­tion, a ma­jor min­eral and food ex­porter.

He and Peru­vian Pres­i­dent Pe­dro Pablo Kuczyn­ski in a pub­lic cer­e­mony signed 18 agree­ments, in­clud­ing one on min­ing and a mea­sure to en­hance their ex­ist­ing bi­lat­eral trade agree­ment.

The head of the Peru-China cham­ber of com­merce Jose Tam was quoted ahead of the talks by Peru­vian news­pa­per El Comer­cio as say­ing that Mr Xi was ex­pected to dis­cuss a deal for ex­port­ing Peru­vian prawns and blue­ber­ries to China.

Dur­ing the APEC sum­mit Mr Xi cast his coun­try as a leader of free trade co­op­er­a­tion.

That was seen as a re­sponse to US Pres­i­dent-elect Don­ald Trump’s threats to re­strict free trade deals in order to pro­tect US jobs.

Mr Kuczyn­ski was elected this year on prom­ises to at­tract for­eign trade and in­vest­ment to Peru.

Peru and its neigh­bours Brazil and Bo­livia are also re­port­edly hop­ing to se­cure Chi­nese in­vest­ment to build a rail­way link­ing the At­lantic and Pa­cific coasts.

China’s Trade Min­is­ter Gao Hucheng, quoted by Peru­vian news agency An­d­ina, said China re­cently over­took the United States as Peru’s top trad­ing part­ner.

Bi­lat­eral trade was worth US$7.1 bil­lion dol­lars in the first half of this year, he said. –

Photo: AFP

China’s Pres­i­dent Xi Jin­ping ap­pears be­fore the Peru­vian congress in Lima on Novem­ber 21.

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