China and Peru have seen a remarkable surge in trade over the past decade, strengthening economic ties between Asia and Latin America. In 2023, bilateral trade between the two nations reached an impressive $37.69 billion, making China Peru’s largest trading partner and accounting for about one-third of Peru’s total foreign trade.
This significant growth comes as Peru hosts the APEC Economic Leaders’ Week, highlighting the country’s pivotal role in global trade discussions. Young entrepreneurs and businesses in Peru are increasingly looking toward China for opportunities in technology, manufacturing, and agriculture.
Peru was the first Latin American country to sign a comprehensive package of free trade agreements with China, paving the way for reduced tariffs and increased market access. These agreements have not only boosted trade volumes but have also fostered cultural exchange and collaboration in sectors like education and tourism.
For the youth in the Global South, this growing partnership opens doors to new possibilities—from studying abroad to exploring new markets for innovative products. The synergy between China and Peru exemplifies how international cooperation can drive progress and prosperity for future generations.
Reference(s):
cgtn.com
