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Peru and China To Sign Free Trade Agreement

China and Peru expect to sign a free trade agreement by mid-April, Peru's top diplomat said on Monday

"It is very possible that around the middle of April we will be signing a free trade agreement with China - probably in China," Foreign Minister Jose Garcia Belaunde said.

China has seen commerce with Latin America explode in recent years, as Beijing seeks new markets and reserves of raw materials to fuel its dramatic economic rise.

China has become mineral-rich Peru's second largest trading partner, after the United States, with exports totaling around 31 billion dollars a year.

Chinese mining giants Shougang, Chinalco and Zijin have announced plans to invest 4.5 billion dollars in Peru's mining sector.

Source: AFP

Author: Ksenia Kochneva