Hu Jintao, China's president, is in Peru ahead of the annual summit of Apec nations [EPA]
The presidents of Peru and China have reached agreement on a free-trade pact - the latest in a raft of deals China hopes will secure access to much-need raw materials for its manufacturing industries.
Alan Garcia, Peru's president, announced the successful conclusion of the talks on Wednesday after meeting his Chinese counterpart, Hu Jintao, in the capital, Lima.
Ten bilateral accords signed between the two countries on Wednesday from health to technology would facilitate the pending trade agreement, Garcia said.
"We are sure this will generate lots of development for Peru and China," he told reporters.
China's president is in Peru for a two-day visit ahead of the Asia Pacific Economic Co-operation forum (Apec) summit there this weekend, where leaders from 21 economies are expected to discuss possible fixes for the world economic slowdown.
The free-trade deal, which could be signed as early as March after final details are worked out, would be China's second such agreement with a resource-rich country in Latin America, whose exports it needs to fuel its ambitious growth plans.
China and Chile signed a free-trade agreement three years ago and Hu also visited Costa Rica and Cuba this week to seek further co-operation on trade in those countries.
China is the second-largest market for Peruvian exports after the US and is rapidly expanding its trade ties across the region.
Peru ships mostly copper, iron ore and zinc to the Asian giant, while China exports cell phones and machinery to Peru.
20th November
http://english.aljazeera.net/news/americas/2008/11/2008112042120216605.html
The presidents of Peru and China have reached agreement on a free-trade pact - the latest in a raft of deals China hopes will secure access to much-need raw materials for its manufacturing industries.
Alan Garcia, Peru's president, announced the successful conclusion of the talks on Wednesday after meeting his Chinese counterpart, Hu Jintao, in the capital, Lima.
Ten bilateral accords signed between the two countries on Wednesday from health to technology would facilitate the pending trade agreement, Garcia said.
"We are sure this will generate lots of development for Peru and China," he told reporters.
China's president is in Peru for a two-day visit ahead of the Asia Pacific Economic Co-operation forum (Apec) summit there this weekend, where leaders from 21 economies are expected to discuss possible fixes for the world economic slowdown.
The free-trade deal, which could be signed as early as March after final details are worked out, would be China's second such agreement with a resource-rich country in Latin America, whose exports it needs to fuel its ambitious growth plans.
China and Chile signed a free-trade agreement three years ago and Hu also visited Costa Rica and Cuba this week to seek further co-operation on trade in those countries.
China is the second-largest market for Peruvian exports after the US and is rapidly expanding its trade ties across the region.
Peru ships mostly copper, iron ore and zinc to the Asian giant, while China exports cell phones and machinery to Peru.
20th November
http://english.aljazeera.net/news/americas/2008/11/2008112042120216605.html
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