China and Peru Activate Upgraded Trade Agreement as Xi Jinping and Keiko Fujimori Mark 55 Years of Relations

Highlights

• An upgraded China–Peru free trade agreement took effect November 1, 2026, adding new chapters on global supply chains, logistics, and environmental cooperation.
• Bilateral trade reached $50.4 billion in 2025, up from $6.4 billion in 2009, reflecting deepening commercial ties between the two countries.
• Chinese firms MMG and Chinalco and U.S. miners Freeport-McMoRan and Newmont are all competing for expanded copper investment in Peru.
• The agreement signals China's broader strategy of combining diplomacy, infrastructure, and trade frameworks to secure critical mineral access.