China and Peru announced the signing of a protocol to upgrade their bilateral free trade agreement during Chinese President Xi Jinping’s visit, as stated in a joint declaration on strengthening their comprehensive strategic partnership released on Thursday.
Both nations will seek new opportunities for collaboration within the Belt and Road Initiative framework to promote mutual benefits, win-win outcomes, and sustainable growth for both countries, according to the statement.
The two sides expressed readiness to work together on major infrastructure projects while adhering to their respective national regulations.
China and Peru are eager to integrate projects in emerging sectors such as the circular economy, sustainable agriculture, industrial and supply chains, digital economy investment, and green development into their bilateral cooperation framework.
The establishment of China-Peru air routes by Chinese airlines through code-sharing, as a step toward cultivating demand for direct flights, was welcomed by both countries.
Emphasizing cooperation in artificial intelligence capacity building, China and Peru aim to boost the digital skills of all citizens, with a special focus on vulnerable populations.
The statement highlighted a shared commitment to developing the fishing industry sustainably through enhanced bilateral cooperation.
Both nations reiterated their dedication to multilateralism, pledging support for a UN-centered international system and an international order grounded in international law.
China and Peru reaffirmed their commitment to strengthening multilateral collaboration and jointly addressing global challenges.
The two sides also expressed their continued support for a multilateral trading system centered around the World Trade Organization (WTO), emphasizing transparency, openness, and non-discrimination.
Additionally, both countries agreed to promote WTO reforms actively, restore the proper functioning of its dispute resolution mechanism, and enhance the overall credibility and efficiency of the multilateral trading system.
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