Why Peru wants to shift its relationship with China beyond raw mineral supplies
Lima is courting Chinese investment as it looks to a ‘new phase’ in their economic relationship, the country’s ambassador tells a forum
Peru wants to move to the next phase of its economic relationship with China to reduce the risks from trade ties dominated by the export of raw minerals, according to the country’s ambassador, Carlos Vasquez.
He told Tsinghua University’s World Peace Forum in Beijing on Friday that Peru was now seeking investment in the country’s infrastructure as it sought to diversify its economy.
He said a handful of products – including copper, iron and fishmeal – accounted for more than 90 per cent of Peru’s exports to China.
Vasquez said even though the country was currently benefiting from high prices for raw materials “we don’t determine the price, the price is determined by some foreign markets”.