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Peru and China Sign New Trade Deals to Boost Cooperation

By: Karina Martín - Nov 22, 2016, 2:28 pm
"I thank the visit of president Xi Jingping to Peru, I expect that the historic relationship that binds our countries brings prosperity" (diariocorreo)
“I thank the visit of president Xi Jingping to Peru, I expect that the historic relationship that binds our countries brings prosperity” (diariocorreo)

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Peru and China have signed a series of bilateral agreements to allow for mutual development intended to optimize free trade between the two countries.

Peru’s President Pedro Pablo Kuczynski (PPK) and China’s President Xi Jinping signed bilateral agreements during a meeting about commercial exchange. The Chinese offered to finance a train in South America that connects the Atlantic and Pacific Oceans, in turn joining Brazil, Bolivia and Peru.

The meeting came after the Asia-Pacific Cooperation Forum (APEC) was held in Lima, during which a total of 18 agreements were signed.

Among the most important agreements are: a strategic mechanism for dialogue on economic cooperation between the Ministry of Foreign Affairs of Peru and the National Development and Reform Commission of China; an agreement for the cooperation of industrial zones and for strengthening the mining sector and the optimization of the FTA.

The agreements were signed by Peruvian Chancellor Ricardo Luna and the Ministers of Production Bruno Giuffra, Minister of Agriculture Juan Manuel Hernández, Minister of the Environment Elsa Galarza and Minister of Energy and Mines Gonzalo Tamayo — along with all of their Chinese counterparts.

“I am grateful for the visit from President Xi Jinping to Peru and I hope that the historic relationship that unites our countries brings prosperity,” the Peruvian leader wrote through his official Twitter account at the conclusion of the meeting.

The president of China went to Peru’s Congress, where he was received by the members of the Board of Directors, chaired by Luz Salgado — as well as by Head of the Foreign Relations Commission Juan Carlos Del Águila — to be decorated with the Medal of Honor.

“The future that awaits us is full of positive expectations,” he said. “An example of which is the agreement of the Ministry of Foreign Trade to send the first shipment of Peruvian blueberries and prawns to Shanghai in direct flight, which is a milestone in bilateral trade relations of which we should congratulate ourselves.”

Sources: El Comercio; Gestión; RPP.

Karina Martín Karina Martín

Karina Martín is a Venezuelan reporter with the PanAm Post based in Valencia. She holds a bachelor's degree in Modern Languages from the Arturo Michelena University.

Despite UN Ban, Bolivia Will Export Coca-Based Products to Ecuador

By: Ysol Delgado - Nov 22, 2016, 2:02 pm
The agreement comes despite the ban on the international trade of the plan by UN conventions for its potential to be used to make cocaine (El Telégrafo)

EspañolBolivia and Ecuador have signed an agreement to export legal coca products through the Ecuadorian market. The agreement was signed in La Paz by the countries' respective foreign ministers, David Choquehuanca of Bolivia and Guillaume Long of Ecuador. Minister Choquehuanca gave a speech in which he said Ecuador will be the first country to export legal products derived from the coca leaf. Read more: Bolivia Water Supply Talks Result in Officials Held Hostage Read more: Bolivia’s Mining Industry Puts President Morales Between a Rock and a Hard Place Bolivian officials said there are already several companies in both nations that have had made "great advances" thanks to this type of initiative and what was missing was a means by which Bolivia could start to export. The Ecuadorian minister celebrated that fact that his country was the first with which Bolivia initiated such a treaty of "greater added value, economy of knowledge and of productive diversification." Bolivia seeks to promote the industrialization of coca with the objective of exporting soft drinks, infusions, cosmetics and food products, all derived from the coca leaf. However, the international trade in coca is banned by UN anti-drug conventions, as it contains alkaloids that are used for the manufacturing of narcotic drugs. Bolivia's coca leaf is reportedly used for medicinal, ritual and cultural purposes that are recognized in the nation's constitution. However, it's no secret that part of the production of this plant is used for the manufacturing of cocaine. googletag.cmd.push(function() { googletag.display('div-gpt-ad-1459522593195-0'); }); The meeting also served to decorate the Chancellor of Ecuador for his "willingness to strengthen ties, cooperation and friendship" through the Condor de los Andes, which is the highest distinction awarded by Bolivia. Long expressed his gratitude, calling for this act to be one of the initiatives that seals the bonds of brotherhood between the two nations. In the coming days, the Ecuadorian Minister is expected to give a speech on an "Ethical Pact" against tax havens, which President Correa's administration has been pushing of late. Source: The Republic

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