Chinese investment in Peru reaches US $ 30,000 million

In the statements of Liang Yu, China's new ambassador to Lima, the investment of said country in Peru, of US $ 30,000 million, is only exceeded in the region by their investment in Brazil. According to the report of the official newspaper “El Peruano”, the 25.12.19, the new ambassador also pointed out (18.12.19) that the Peruvian-Chinese bilateral trade has multiplied by 4 in the last 10 years, from US $ 6.4 billion to 23.1 billion. (In the photo, Yu appears with Peruvian ministers Gustavo Meza-Cuadra, Edgar Vásquez and Ana Teresa Revilla)

Yu highlighted the level of coordination of both countries, which have come to establish an Integral Strategic Association. "The free trade agreement between the two countries has made China the first trading partner, the largest export destination and the largest source of investment for Peru," said Yu.

He also stressed that Peru and China signed the Memorandum of Understanding on Cooperation in the Framework of the Belt  and Road, (an aspect in which blog followers are duly informed.)

“China and Peru have been maintaining an increasingly consolidated mutual political trust and more frequent exchanges in various fields and levels. Practical cooperations in different fields such as economy, commerce, science and technology and culture are constantly expanding, ”said Yu.

He highlighted among the large-scale cooperation projects the construction of the port of Chancay, and the acquisition of Luz del Sur by the Three Gorges Corporation of China, achieved this year with great success. In addition, he cited Huawei's willingness to cooperate in implementing 5G technology in Peru.

Yu said that China has sufficient capacities in industrial technology, capital and market to strengthen cooperation with Peru in mining, energy, infrastructure, telecommunications and citizen security.

Yu said China is willing to share development opportunities and address global challenges by building the Belt  and Road.

The Chinese investment has been given especially in the mining, oil, gas, port and infrastructure sectors, and would be much greater if President Pedro Pablo Kuckzysnki had not canceled the Brasl Peru transcontinental railroad project that China offered to finance in 2017.

29/12/19