Trade between Peru and China would reach 15 billion in 2012, 15.38 percent higher than the 13 billion expected in 2011, the Minister of Foreign Trade and Tourism, José Luis Silva, said Monday.
"We expect to reach US$15 billion next year, but everything depends on movements of the external market," he said after participating in the 5th China-Latin America Business Summit, being held in Lima.
Trade between Peru and China surpassed 10 billion in 2010 and this year would grow 32 percent.
This increase is largely fueled by the Free Trade Agreement (FTA) signed between the two countries and which entered into force in March 2010 and an increase in the mineral prices.
However, this trade rise depends on the effects of the global international crisis.
Silva said China has become Peru's main trading partner, displacing the United States, and that trade balance is positive for the country in 100 million dollars.
He explained that Peru's main exports to China are minerals and fish products, but it seeks to increase exports of other products such as agro-industrial and apparel.
"We are developing other products in agriculture and apparel that we hope will continue growing. The forestry sector has enormous potential and we can invest in forests," he said.
The 5th China-Latin America Business Summit is sponsored by the China Council for the Promotion of International Trade and the Peruvian Foreign Ministry. At least 1,000 Chinese and Latin American officials and businessmen are participating.
China and Peru signed an agreement on promotion and mutual investment protection in 1994, and a memorandum of understanding on trade and economic relations in 2007.
Current Chinese investments in Peru are worth about 2.2 billion dollars, with the most capital invested in the mining, hydrocarbon and fishing sectors. (Andina)
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