China has become the first Asian country to become Peru’s trade partner since 2014, the Peruvian Foreign Ministry said on the occasion of the 10th anniversary of the establishment of a comprehensive strategic partnership between the two states. This was reported on April 2 by the Andina agency.
The trade balance between the two countries was reported to have been $36.5 billion last year, leading Peru to a surplus of $5 billion.
This situation arose as a result of the signing of a free trade agreement between the two countries, which took place in 2010.
The Peruvian Foreign Ministry pointed out that according to data released by the Peruvian Agency for the Promotion of Private Investment (ProInversión), China ranks eighth in terms of foreign investment in Peru, with US$1.1 billion.
The most promising areas for investment are communications ($942.4 million), mining ($157.8 million) and construction ($7.2 million).
In addition, the Peruvian Foreign Ministry pointed out that China has allocated US$18.7 million for the construction of the National Emergency Operations Center in Peru, and has provided donations since the start of the COVID-19 pandemic for a total of US$7 million ( 545 million rubles) .
Source: Rossa Primavera
I am Michael Melvin, an experienced news writer with a passion for uncovering stories and bringing them to the public. I have been working in the news industry for over five years now, and my work has been published on multiple websites. As an author at 24 News Reporters, I cover world section of current events stories that are both informative and captivating to read.