China and Peru have concluded the latest round of talks on their impending free trade agreement (FTA) and have upgraded bilateral ties to a strategic partnership, it has been announced.
The news was announced upon the conclusion of the discussions between Chinese President, Hu Jintao, and Peruvian President, Alan Garcia.
Hu said the move symbolized that bilateral ties are entering a new era of rapid development.
Since the beginning of this year, China-Peru ties have made new headway. Both countries have maintained close political contact, strengthened political mutual trust, expanded trade links and enhanced cultural exchanges, and maintained close consultation and cooperation in international and regional affairs.
After the conclusion of the FTA negotiations, Hu urged the two sides to sign and implement the pact at an early date so as to bring its benefits to the two countries as soon as possible.
The Peruvian President called for more efforts to be made in the mining area, with his Chinese counterpart subsequently urging the Peruvian side to facilitate Chinese enterprises seeking to invest in Peru.
Peru also expects more Chinese mining enterprises to invest in the country and is ready to create a sound investment environment for Chinese corporations.
In addition to this, China and Peru signed 11 cooperative documents relating to the economy, technology, health, customs, poverty relief, finance, mining, agriculture and other areas. Hu and Garcia both attended the signing ceremony.
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