Peru close to signing agreement with China on virtual and physical connectivity
Peru
26 abril 2019

On April 25, the Minister of Foreign Trade Edgar Vasquez announced that Peru will sign a memorandum of understanding with China to implement the initiative “The Strip and the Road” (La Franja y la Ruta, in Spanish). The signing of this agreement, aimed at linking up several countries physically and virtually via infrastructure and commercial ties, is expected to take place amid the II International Cooperation Forum in Beijing, which will end on April 27.

“The Strip and the Road” is a Latin America-targeted venture that will be resourced through financing and cooperation from Chinese companies. The agreement would  help materialize Peru’s interest in improving, through international cooperation, the efficiency of its maritime and land connectivity, as well as streamline virtual trade and the development of fiber optic bases. Vasquez pointed out that within Latin America, Peru is the second biggest destination for Chinese investment, and that his country will continue “to develop and facilitate trade and investment relations on a global scale”.

The II International Cooperation Forum, which will bring together leaders from around the world, will take place in Beijing from today until April 27. Peru is expected to formalize the agreement during this event. It is worth noting that this cooperation would take place as part of the renegotiation process of the free trade agreement with China on electronic commerce.

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