The Peruvian Government will propose changes to the Free Trade Agreement (FTA) with China with a view to the summit of APEC 2024which will have the Chancay megaport as the cornerstone for its commercial showcase to the world.
During a breakfast organized by the Chinese Chamber of Commerce (Capechi), The Vice Minister of Foreign Trade, Teresa Mera, assured that “Peru did the right thing when negotiating the trade agreement” in 2010.. The numbers show it: the Asian giant represents 32% of local exports and is our main trading partner.
“We are working on optimizing the agreement, at a stage that is very advanced. We have done a review, because after 14 years, trade is extremely dynamic and we are incorporating some disciplines that will be important for the commercial relationship,” Mera said.
Precisely, details are being finalized to consolidate frozen shipments of pomegranate, avocado and mango to China. Mincetur hopes to then advance an FTA with India, Indonesia, Hong Kong and Thailand.
A situation viewed favorably by the ambassador of the People’s Republic of China, Song Yang, who acknowledged for La República that, despite the exclusivity controversy with the National Port Authority (APN), they still remain “available to deepen investments in the country.”
“It is a golden key for Peru to attract investments. Our commitment is to complete the project on time. China is a country of words and deeds. “We are together with the Peruvian government and relevant authorities to resolve the problem as soon as possible,” Yang said.
For its part, Cosco—the company in charge of the port of Chancay—detailed four axes to guarantee the prosperity of the northern terminal: port technology that ensures productivity and positively impacts logistics costs, a Special Economic Zone (SEZ) before November, local road connectivity and a bi-oceanic train that connects with Brazil, and a single customs code that facilitates the transit of goods between Callao, Ancón and Chancay.
“The vision of the shareholders is to build a logistics and industrial cluster on the central coast for the benefit of the country and the region; the port is a component,” highlighted Carlos Tejada, deputy general manager at Cosco Shipping Ports Chancay Perú.
Peru and China: a key global agreement
In March, 14 years of the FTA between Peru and China are commemorated. Until 2023, shipments to that country grew 326% and had a growth rate of 13.2% per year, according to Sunat. In 2023, exports were worth US$23,156 million, 36% of total shipments.
The Chinese embassy assured that products such as quinoa, maca, alpaca, among others, are highly valued in Asia.
Cosco also hopes for the prompt approval of the cabotage law, currently truncated in the Congressfor its US$1.3 billion port.
Reactions
Song Yang, ambassador of the People’s Republic of China
“(Chancay) is a golden key for Peru to attract investments. China is a country of words and deeds. “We are together with the Peruvian Government and the authorities to resolve the problem as soon as possible.”
Teresa Mera, Vice Minister of Foreign Trade
“APEC is an extremely important region for us, which we must continue to strengthen. In that sense, we have been working on optimizing the trade agreement with China; “We are in an extremely advanced stage.”
Source: Larepublica
Alia is a professional author and journalist, working at 247 news agency. She writes on various topics from economy news to general interest pieces, providing readers with relevant and informative content. With years of experience, she brings a unique perspective and in-depth analysis to her work.
