Peru, China working together with future vision: Peruvian president

LIMA, Oct. 30 -- Peru-China cooperation should be based on a long-term outlook that goes beyond current affairs and circumstances, according to Peruvian President Martin Vizcarra.

At a meeting with foreign correspondents in Lima on Monday, Vizcarra responded to a query on bilateral trade and investment ties by saying "obviously, we have to work with a vision of the future, always keeping in mind the great power that is China."

Peru is now preparing to take part in the first ever China International Import Expo (CIIE), which will take place in Shanghai starting next week.

"China is interested in a series of investments in Peru (and) we have said investment is welcome," said Vizcarra.

The South American country has opened its doors to foreign investment from China and other parts of the globe within the framework of national regulations.

"Part of the investment we have registered to date has come from Chinese capital," said the president.

Vizcarra highlighted certain national projects that are of particular interest to investors, including the Las Bambas mine in southern Apurimac department (state), a project estimated to be worth some 10 billion U.S. dollars.

Asked about the upcoming meeting of leaders from the Asia-Pacific Economic Cooperation (APEC), taking place Nov. 17 and 18, Vizcarra said Peru will continue to promote open markets.

"Our economy is open to the world and we will once again demonstrate that with our participation at the APEC Forum in Papua New Guinea," said Vizcarra.

Peru and China have had a free-trade agreement in place since 2010.

In 2017, Peru's exports to China amounted to 11.455 billion U.S. dollars, a 36-percent increase over the year before, according to figures from the Lima Chamber of Commerce.