China and Peru welcomed the signing of a protocol to upgrade their bilateral free trade agreement during Chinese President Xi Jinping’s visit. According to a comprehensive joint statement released on Thursday, the protocol aims to deepen the comprehensive strategic partnership between the two countries. The statement highlighted that both nations would explore new opportunities for cooperation under the framework of the Belt and Road Initiative to achieve mutual benefits, win-win outcomes, and promote sustainable development. It also emphasized their readiness to collaborate on large-scale infrastructure projects in accordance with their respective national laws.
China and Peru expressed their willingness to incorporate emerging areas into their bilateral cooperation, including circular economy, sustainable agriculture, industrial and supply chains, digital economy investment, and green development. The two countries welcomed the establishment of aviation links between China and Peru through code-sharing agreements by Chinese airlines, paving the way for the initiation of direct flights. The importance of cooperation in developing artificial intelligence capacity was underscored, along with the need to enhance digital competitiveness for all sectors, particularly vulnerable groups. Both countries reaffirmed their commitment to multilateralism by pledging to uphold the UN-centered international system and the international order based on international law. They also reiterated their efforts to strengthen multilateral cooperation and jointly address global challenges. The statement confirmed that China and Peru would continue supporting an open, transparent, and non-discriminatory multilateral trading system centered on the World Trade Organization (WTO). Both nations expressed readiness to actively support WTO reforms, restore the normal functioning of its dispute resolution mechanism, and enhance the authority and effectiveness of the multilateral trading system.