China's ambassador to Peru, Liang Yu, said today that his country's growth will continue to boost Peruvian exports of mineral and food products, in the context of 50 years of diplomatic relations between the two nations.

He said that the bilateral relationship is in "its best moment" because they are commercial partners and are united by very deep historical ties, in addition 10% of the Peruvian population has Chinese ancestry.

"Peru has been one of the first Latin American countries to establish diplomatic relations with China," he stressed.

He also noted that Peru and China have established a comprehensive strategic partnership and have signed a Free Trade Agreement (FTA) that is already 11 years old.

"We are negotiating the optimization of this treaty, I believe that this will lay a more solid foundation for the future of trade and investment cooperation," he said.

He said that the trade balance between the two countries has always been in surplus for Peru and the volume of trade grew 1,200 times in the last 50 years.

Investment

On the other hand, Ambassador Liang Yu commented that China represents 30% of Peru's foreign trade volume and highlighted his country's investment.

“China is one of the main investors in Peru, we have important projects in mining, hydrocarbons, electricity, transportation, telecommunications and finance, etc.

He indicated that China is one of the main investors in Peru with 30,000 million dollars, and also Peru is the second destination for Chinese investments after Brazil in Latin America.

“We have important projects like Las Bambas. Toromocho and Shougang Hierro in the mining area, I believe that at this time the higher price of these metals has contributed to the reactivation of the economy in Peru and I believe that in the future there is also great potential ”, he explained in Canal N.

He said that China is the world's second largest economy and now emphasizes new infrastructure construction, such as 5G telecommunications stations, intercity high-speed railways, as well as ultra-high-voltage electricity transportation, all of which necessitate a high demand for metals.

"We also have great demand for non-typical products such as blueberry, avocado, shrimp," he said.

As an example, he pointed out that Peru is the first blueberry exporter to China with great prospects for the future.

"Currently China has 400 million middle-class inhabitants and in 15 years, we are going to increase to 800 million, this is equivalent to all of Europe plus the United States, so there will be an immense horizon to further strengthen our relations," he stressed.

He also commented that the population with diabetes in China exceeds 100 million inhabitants, who have a demand for products such as quinoa that is low in sugar and high in protein.

For this reason, he pointed out that all Peruvian agricultural production will have a place in the large Chinese market.

He also mentioned that Peru's investment in China has great growth potential.

Vaccines

On the other hand, he indicated that China has supported Peru to face the coronavirus pandemic and announced that the arrival of one million Sinopharm vaccines to Peru as a donation is in process.

"In these days a donation of a million doses of Sinopharm will arrive in Peru," he said.