During the Asia Pacific Economic Cooperation Leaders’ Week, host country Peru and China have expanded and improved their existing free trade agreement. This development opens the Chinese mainland marketplace to a wider array of Peruvian exports, potentially unlocking new economic opportunities for both nations.
The enhancement of the free trade agreement signifies a strengthening of economic ties between Peru and China. By broadening access to each other’s markets, both countries aim to boost trade, foster growth, and deepen bilateral relations.
The move is expected to benefit various sectors in Peru, allowing exporters to reach China’s vast consumer base. As Dan Collyns reports from Lima, this could lead to increased exports of Peruvian products, stimulating the local economy and providing new avenues for business professionals and investors.
Reference(s):
cgtn.com
