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China-Peru FTA Upgrade Protocol enters into force on Sunday, to boost bilateral economic, trade ties

2026-11-05 09:47   环球时报网英文版

  Port workers load fresh Peruvian fruit from Chancay Port in Peru, which arrived at Shanghai"s Yangshan Port, onto trucks for distribution on December 19, 2024. Photo: VCG

  The free trade agreement (FTA) Upgrade Protocol between China and Peru entered into force on Sunday, according to a statement seen on China’s Ministry of Commerce (MOFCOM).

  The entry into force and implementation of the protocol will boost China-Peru economic and trade ties, accelerate the two countries’ comprehensive strategic partnership, create a more favorable business environment and trade and investment opportunities for enterprises on both sides, and bring more tangible benefits to the peoples of the two countries, MOFCOM said.

  Observers expect the protocol to get Peru-produced blueberries, avocados, grapes and fishery products onto Chinese supermarket shelves and dining tables more quickly, while opening a faster lane for Chinese exports of autos and parts, steel, and electronic and telecom equipment to Peru. They also see the Chancay Port – a landmark cooperation project under the Belt and Road Initiative (BRI) – emerging as a door-to-door hub, with multimodal links and clearer logistics rules helping mineral ores and agri-fishery cargo move more smoothly between the two countries.

  China and Peru launched FTA upgrade negotiations in November 2018 and signed the Upgrade Protocol on November 14, 2024. Through joint efforts, the two sides recently confirmed that each has completed its respective domestic approval procedures, and the Upgrade Protocol entered into force on Sunday.

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