Diplomat says raft of agreements set to be signed

China and Peru will sign a series of agreements in the fields of technology transfer, investment and people-to-people exchanges during President Xi Jinping's visit to the South American country, according to the Peruvian ambassador to China.

Juan Carlos Capunay said the countries have selected 18 priority projects covering energy, mining, infrastructure and capacity production, with a total investment of over $25 billion.

"Some projects are ongoing, some will be signed during Xi's visit, and others are still in the process of discussion," he said.

Among the deals likely to be signed is one for industrial park project that includes construction of a road, a refinery and a port in southern Peru, which represents the new kind of relationship Peru wants to establish with China, Capunay said.

Cooperation was also a major topic for Peruvian President Pedro Pablo Kuczynski when he visited China in September, just over a month after he took office.

"It's very unusual," Capunay said referring to the timing of the visit. "It usually takes at least 100 days for the president to visit overseas. ... It shows how important China is for us."

China is Peru's largest trading partner and an important source of investment. Last year, bilateral trade reached $14.47 billion, according to data from the Chinese Foreign Ministry.

Meanwhile, more than 170 Chinese companies have established a presence in Peru, with a total investment of more than $14 billion.

The ambassador said his country is open to further Chinese investment. While investors can benefit from the free trade agreements Peru has signed with other countries and regions, including North America, the European Union, Singapore and Japan, they can also "act like a local investor", Capunay said, explaining, "They can have access to local banks for loans and can invest in the stock market."

Peru has the largest Chinese community in Latin America, with 10 percent (about 3 million) of its population having Chinese origins.

There are many Chinese restaurants in Peru, while the largest domestic supermarket is owned by a Chinese family surnamed Wong.

"Peru and China have very good historical links and a realistic present, which guarantees us a promising future in relations," Capunay said.

mojingxi@chinadaily.com.cn