Peru and China lay groundwork for Free Trade Agreement

00Peruvian president Alan Garcia
Alan Garcia
© (Photo: C. Salazar)

(LIP-wb) — Peruvian President Alan Garcia announced in a press conference on Thursday afternoon that Peru and China have agreed to begin work on a feasibility study for a future Free Trade Agreement.

Garcia revealed to have received a letter from the Chinese government which signals the go-ahead for such an initial analysis which may lead towards a commercial treaty.

“Today Peruvian and Chinese officials began working on laying the groundwork for such a treaty and we hope that this will eventually open the door to the Chinese market for Peru”, he declared.

Garcia emphasized the characteristics of this immense Asian market, one of the fastest growing economies in the world, and one with positive projections for the next years.

He referred that China has already surpassed Germany to become the third economic power in the world and it is anticipated that by 2030 China could even overtake the United States, if they don’t accelerate economic development and growth very soon.

"For the Peru of the future, it is fundamental to unite its economy with the immense Chinese economy”, Garcia said. “With China’s response to work on the foundation of a future treaty, we are taking a gigantic step for the good of our national economy”, he stressed.

He also mentioned that this would mean the Asian colossus has declared Peru as a country of high-priority for millions of Chinese tourists.

Garcia remembered that in the 19th century Peru was the first country in South America to open relations with China and now history allows that Peru is again the precursor for a new era.