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On the date, under the joint witness of President Xi Jinping and Peruvian President Dina Boluarte, Minister of Commerce Wang Wentao and Minister of Foreign Trade and Tourism of Peru Roberto Sanchez Leon, on behalf of their respective governments, signed the "Protocol on Upgrading between the Government of the People's Republic of China and the Government of the Republic of Peru" in Lima, Peru.

China and Peru signed a Free Trade Agreement in month and year, initiated negotiations for upgrading the China-Peru Free Trade Agreement in month and year, and completed the substantive work in month and year. Based on the original Free Trade Agreement, the upgraded protocol further improved the original chapters on rules of origin, customs procedures and trade facilitation, sanitary and phytosanitary measures, intellectual property, trade in services, temporary entry of business personnel, and investment. Additionally, it added new chapters on cooperation in standards and conformity assessment, competition policy, e-commerce, global supply chains, and environment and trade. The signing of the upgraded protocol is conducive to deepening the potential for bilateral trade and investment cooperation, creating a better business environment for both countries' enterprises, further protecting and promoting two-way investment, and bringing more tangible benefits to the enterprises and people of both countries.

After signing, both parties will proceed with the necessary domestic legal approval procedures to expedite the early entry into force and implementation of the upgraded protocol.

Source: Ministry of Commerce

Editor/Sun Nan

Review/Time

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