The China-Peru Free Trade Agreement took effect March 1, calling for phasing out tariffs on 90% of goods exchanged between the two nations, with an emphasis on Chinese industrial and manufactured goods and Peruvian minerals and agricultural goods. With bilateral trade valued at $7.5 billion in 2008—up 24% from 2007—China has emerged as Peru's second-biggest trade partner, according to Beijing's Ministry of Commerce. China also has free trade pacts with Pakistan, New Zealand, Singapore and the ASEAN bloc. (Xinhua [2], Global Times [3], China, March 1)
See our last posts on China [4], Peru [5] and China in Latin America [6].
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