China, Peru close to trade pact

(China Daily)
Updated: 2008-11-21 07:14

LIMA: China and Peru concluded their talks on a free trade agreement on Wednesday, upgrading the bilateral ties to a strategic partnership.

President Hu Jintao and his Peruvian counterpart Alan Garcia made the announcement after their official meeting.

The two leaders shared a toast of pisco sour, the Peruvian national drink made of brandy and lime.

Chinese President Hu Jintao (L) waves next to Peru's President Alan Garcia as they arrive in a car at the government palace in Lima November 19, 2008. [Agencies]

"The move demonstrates that ties have entered a new phase and through the efforts of both sides, I believe we can push the relations between the two countries to an even better future," Hu said, adding the two countries should give full play to each other's advantages in resources, technology, capital and market.

Hu also urged the two sides to sign and implement the free trade pact at an early date so as to bring benefits to the two peoples as soon as possible.

The pact is China's second in Latin America, following an accord with Chile in 2005. Officials said the deal will be finalized in several months.

"The doors of Peru are open to mining, port and infrastructure firms," Garcia said.

Hu echoed Garcia's remarks, adding that Chinese companies have expertise and experience in the construction of ports, roads, telecommunications, electricity networks and urban water-supply systems, and are willing to participate in all these projects in Peru.

He also suggested both sides enhance cooperation in hi-tech fields and others like poverty eradication.

The presidents also witnessed the signing of 11 cooperative documents in the fields of economy, technology, health, customs, poverty relief, finance, mining and agriculture.

Peru also announced on Wednesday that regular commercial flights can now begin between the Andean nation and China.

Luis Valdivieso, Peru's finance minister, said China will be key in helping Peru to diversify its markets.

Peruvian newspapers on Wednesday hailed Hu's visit to the country, saying the Peruvian government was looking forward to receiving Hu, as China is a major trading partner and investment destination in the Asia-Pacific region.

The national daily La Republica ran a front-page picture of a smiling Hu waving to a crowd, with two red Chinese characters huan ying (welcome) on the top of page.

Agencies-China Daily