Old friends on both sides of the Pacific shook hands again. From Lima to Beijing, an upgraded agreement quietly came into effect, opening a new page in the business world spanning thousands of miles.

The upgrade negotiations between China and Peru were launched in November 2018, and a protocol was signed on November 14, 2024. This time, seven original chapters, including rules of origin, customs procedures, and trade facilitation, were improved, and five new chapters were added, including e-commerce, global supply chain, environment, and trade. Future terms were also set for negotiations on negative lists for service trade and investment.

The China Peru Free Trade Agreement is the first comprehensive free trade agreement signed between China and Latin American countries. Since its entry into force in 2010, the bilateral trade volume has increased from 6.4 billion US dollars in 2009 to 50.4 billion US dollars in 2025, an increase of nearly seven times. The entry into force of the agreement will create a better business environment for both sides' enterprises and inject new vitality into the economic and trade relations between the two countries.Editor/Min Jing