From May 30 to June 2, 2023, the fifth round of negotiations on upgrading the China-Peru Free Trade Agreement will be held in Beijing. On the basis of the consensus reached in the early stage, the two sides conducted comprehensive and in-depth consultations on topics such as cross-border service trade, investment, intellectual property rights, e-commerce, customs procedures and trade facilitation, and rules of origin.
At the end of 2018, China and Peru announced the launch of negotiations on upgrading the free trade agreement. China is Peru's largest trading partner, and Peru's trade with China will account for 29.4% of Peru's total foreign trade in 2022. Carrying out negotiations on upgrading the free trade agreement will help in-depth exploration of the potential benefits brought by the China-Peru free trade agreement to the two countries, further enhance the level of economic and trade cooperation between the two countries, and bring more benefits to the enterprises and people of the two countries.