President of Peru to carry out state visit to China to expand relations
The President of Peru, Dina Boluarte, is preparing an official state visit to China in June with a broad economic agenda, which will include a meeting with her counterpart Xi Jinping. Peru’s Minister of Agrarian Development and Irrigation, Ángel Manero, announced the president’s plan to visit China during a press conference, highlighting the importance of this opportunity to expand the commercial relations between Peru and China.
The agenda of the visit will cover 29 points of interest, with the export of Peruvian meat being one of the central issues. It is estimated that this measure could generate between three and four billion dollars in revenue for Peru in the medium term, according to Manero, representing a significant opportunity for the country’s economy.
In addition to meat exports, the Peruvian government is working on the necessary sanitary certification to export poultry, pork, and beef products to the Chinese market, through the National Agrarian Health Service – SENASA.
The search for new trade agreements comes amidst a growing closeness between China and Peru. The Peruvian government recently granted the Chinese company Jinzhao the construction of the New Port Terminal of San Juan de Marcona in a 30-year concession, with an estimated investment of US$405 million.
Additionally, the Peruvian port of Chancay is being developed with a majority participation from the Chinese company Cosco Shipping, a prominent example of Chinese expansion on the Peruvian coasts.
China has consolidated its position as the main destination for Peruvian exports, a title it has held since 2010. During this period, exports increased from US$5.4 billion to a quadrupled figure in 2023, when exports reached a value of US$23 billion, representing 36% of total shipments. With that surge, China saw its hold of the Peruvian export market rise to 15.2%, marking a significant change since the implementation of the Free Trade Agreement, which came into effect in 2010.
The scheduled meeting between Boluarte and Xi Jinping in June will also serve as preparation for the summit of leaders of the Asia-Pacific Economic Cooperation (APEC) Forum, which will be held in Lima in November. The participation of the Chinese president, as well as other leaders of the 21 economies that make up the forum, is expected – providing an important platform to discuss key issues of economic and trade cooperation in the region.
Additionally, Boluarte’s trip to China takes place in a complex political and economic context internally for Peru. Currently, the president faces internal criticism, including allegations of alleged censorship of information and growing unrest over the increase in poverty in the country, so this trip marks an ongoing effort by the Peruvian government to strengthen relations with China and diversify its economic base.
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