Peru and China to sign new trade agreements during APEC 2016 summit

From November 17 to 19, the Asia-Pacific Economic Cooperation (APEC) summit will be held in Lima, Peru. It is the second time in eight years that this prestigious event takes place in Peru. 7,000 people will arrive in Lima; 300 of which are part of the Chinese delegation.

Including the twenty-one presidents of the countries that are members of APEC (including His Excellency President Xi Jinping). The slogan of the meetings that will be held is “quality growth and human development”, explaining the main concepts that will drive the discussions. It is significant to mention that the APEC economies represent 3,000 million people and 60% of the global GDP. 

It is in this context that Peru will sign a trade agreement with China so that the former country can export blueberries and shrimps to the former one without any commercial barriers. In addition, Mercedes Aráoz, Peruvian Second Vice-President stated that Peru has raised the possibility to eliminate para-tariff protectionist measures (mainly phytosanitary measures) for agricultural and fishery products of the APEC economies. In addition, Aráoz mentioned that in 2015, the investment of APEC countries in Peru was of approximately USD 8,000 million. 

Peru’s international commerce with the other 20 APEC countries has risen 14 times in the last 18 years, representing 57% of this country’s exports.

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