Peruvian President Dina Boluarte has undertaken a state visit to China, initiating in Shenzhen. This visit, the first by a Peruvian leader to China in eight years, is expected to focus heavily on trade discussions. In anticipation of the visit, our correspondent explored the robust trade dynamics between China and Peru, particularly in the agricultural sector.
In Shenzhen, a recent shipment of avocados from La Libertad, Peru, highlights the strong agricultural trade, with Peru being China's primary avocado provider. Since the China-Peru free trade agreement's inception in 2010, there has been a notable increase in Peruvian fruit imports, including a 20% rise in avocado and tangerine imports over the past year. This agreement facilitates the entry of Peruvian fruits into China at zero tariffs, significantly reducing import costs.
Moreover, the demand for Peruvian agricultural products extends beyond avocados to bananas, mangoes, blueberries, and other fruits. The establishment of subsidiaries by Peruvian fruit companies in China underscores the strategic importance of the Chinese market to Peru's agricultural sector. Recent statistics reveal a 13% increase in trade volume between China and Peru in the first two months of this year, reaching a total of 5.6 billion U.S. dollars. Additionally, Shenzhen port's import of fresh fruit from Peru has seen a significant increase, with 14,800 tons imported from January to May 2024, valued at 350 million yuan.
President Boluarte's visit also aims to explore avenues for increasing meat exports to China, a market perceived to hold significant potential for Peruvian producers. This visit is part of broader efforts to deepen China-Peru trade relations across various sectors.
Source: news.cgtn.com