Peru, China to view viability of free trade deal
Thu Feb 15, 2007
LIMA, Feb 15 (Reuters) — Peru and China on Thursday took a first official step toward a free trade agreement that would unite one of giant Latin American metals producer and the world’s most voracious consumer.
Peru’s Foreign Trade and Tourism Ministry said in a statement the two countries agreed on Thursday to do feasibility studies for an eventual free trade agreement.
"China is open to actively developing an economic and trade relationship with Peru," China Trade Minister Bo Xilai said in a letter to his Peruvian counterpart.
It is the first step in what could be a long process but it officially puts a trade agreement on both countries’ agendas.
Peru is one of the world’s top silver producers, No. 3 producer of copper and zinc, and No. 5 gold producer while China is a massive buyer of base metals used to feed infrastructure projects.