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China hosts Latin American and Caribbean leaders
China hosts Latin American and Caribbean leaders

RTHK

time12-05-2025

  • Business
  • RTHK

China hosts Latin American and Caribbean leaders

China hosts Latin American and Caribbean leaders Foreign Minister Wang Yi and Peru's Foreign Minister Elmer Schialer attend a meeting in Beijing. Photo: AFP Beijing on Monday welcomed Latin American and Caribbean leaders and officials, as it pushes for a united front against US President Donald Trump's recent maelstrom of tariffs. China has stepped up economic and political cooperation with Latin American nations in recent years, with two-thirds of Latin American countries having joined the Belt and Road initiative (BRI). The nation has surpassed the US as the biggest trading partner of Brazil, Peru and Chile, among others. The forum between China and the 33-member Community of Latin American and Caribbean States (CELAC) is due to formally begin on Tuesday. A notable attendee is Brazilian President Luiz Inacio Lula da Silva, who arrived in Beijing on Saturday for a five-day state visit. Lula has sought to improve ties with both China and the US since returning to power in early 2023. On Monday, Foreign Minister Wang Yi hosted his Cuban counterpart Bruno Rodriguez Parrilla, Venezuela's Yvan Gil, Peru's Elmer Schialer and Uruguay's Mario Lubetkin for talks in the capital. Other expected participants in the forum include Colombian President Gustavo Petro and Chilean President Gabriel Boric. Petro said last week that he would sign a "letter of intent" to join the BRI when he meets President Xi Jinping in the coming days. Xi will address the summit at its opening ceremony on Tuesday, according to the Foreign Ministry. The ministry also pointed out that the nation stands ready to take the meeting as an opportunity to discuss development plans with CELAC countries, Xinhua News Agency said, adding it also looks to address global challenges, promote global governance reform and safeguard world peace and stability. (AFP)

GCC chief pins hopes on MoU with Peru to step up ties
GCC chief pins hopes on MoU with Peru to step up ties

Zawya

time02-05-2025

  • Business
  • Zawya

GCC chief pins hopes on MoU with Peru to step up ties

RIYADH: A memorandum of understanding (MoU) signed between the Gulf Cooperation Council (GCC) and Peru is in line with the six-member bloc's aspirations to bolster its relations with the international community, its chief said on Thursday. The deal aims to ratchet up dialogue between the Riyadh-based bloc and Lima over matters of mutual concern, Jassim Al-Budaiwi said in a statement after holding talks with Peru's Foreign Minister Elmer Schialer, hailing the agreement as a step towards greater political and economic cooperaton. The MoU is expected to broaden the scope of bilateral cooperation across fields running the gamut from politics and food security to culture and education, he added. All KUNA right are reserved © 2022. Provided by SyndiGate Media Inc. (

Kuwait, Peru reaffirm deepening bilateral relations in various fields
Kuwait, Peru reaffirm deepening bilateral relations in various fields

Zawya

time02-05-2025

  • Business
  • Zawya

Kuwait, Peru reaffirm deepening bilateral relations in various fields

KUWAIT: Kuwait and Peru reaffirmed their bilateral commitment to deepening relations in various economic, political, cultural, and educational fields in a joint statement Thursday, on the occasion of Peru's Foreign Minister's official visit to Kuwait. Peru's Foreign Minister Elmer Schialer visited Kuwait on April 29, as part of the commemoration of the 50th anniversary of the establishment of diplomatic relations between the two friendly countries. During Minister Schialer's visit, he delivered a message addressed to His Highness the Amir Sheikh Meshal Al-Ahmad Al-Jaber Al-Sabah, from the President of Peru, Dina Ercilia Boluarte Zegarra, regarding the historical friendship between the two countries and efforts to develop them. The message was received by His Highness the Crown Prince Sheikh Sabah Khaled Al-Hamad Al-Sabah, during a meeting he had with the Peruvian Foreign Minister. Kuwait's Foreign Minister Abdullah Al-Yahya received Minister Schialer, where they exchanged views on regional and international issues, stressing the importance of achieving a lasting and fair peace in the Middle East. The two sides expressed their satisfaction with the understanding achieved in bilateral relations, affirmed their readiness to move forward with existing agreements, and pledged to advance efforts aimed at signing several agreements and memorandums of understanding between the two countries in the economic, cultural, educational, and other important fields. The two ministers also expressed their awareness of the importance of cooperation for sustainable development as a strategy to address the impacts of climate change on agriculture and food security, agreeing on continuing negotiations related to investment and food security. They also reiterated their commitment to maintain ongoing dialogue, with Minister Schialer extending an invitation to Minister Al-Yahya to visit Peru. All KUNA right are reserved © 2022. Provided by SyndiGate Media Inc. (

Toward a shared future: Deepening Peru-Saudi Arabia cooperation
Toward a shared future: Deepening Peru-Saudi Arabia cooperation

Arab News

time29-04-2025

  • Business
  • Arab News

Toward a shared future: Deepening Peru-Saudi Arabia cooperation

In an increasingly interconnected world that is facing complex challenges, fostering international cooperation is not only necessary — it is our shared responsibility. As I prepare for my visit to the Kingdom of Saudi Arabia, I am struck by how much potential lies in building bridges between our nations. Despite their geographical distance, Peru and Saudi Arabia share a common vision rooted in economic cooperation. United by their historical and cultural richness, both countries are committed to global integration and a mutually beneficial relationship based on economic complementarity. Strategically located on the Pacific coast of South America, Peru serves as a central economic gateway to the region. With a population of more than 34 million and a territory of 1.28 million sq. km, the country has become an example of macroeconomic stability and a regional leader in trade and investment. In 2024, Peru maintained solid economic performance with gross domestic product growth of 3.3 percent, inflation contained at 1.97 percent and a record total export value of $74.6 billion. Supported by more than three decades of sound economic policies, Peru offers a stable and investor-friendly environment, reinforced by a legal framework that guarantees equal treatment for foreign investors and adherence to international investment protection mechanisms such as the International Centre for Settlement of Investment Disputes and the Multilateral Investment Guarantee Agency. This foundation ensures legal predictability and long-term stability, key elements for Saudi investors seeking strategic and secure opportunities. In addition, the country's trade-led growth model is supported by more than 20 free trade agreements and 32 bilateral investment treaties, a network that provides preferential access to key global markets for 87 percent of the country's exports. Despite their geographical distance, Peru and Saudi Arabia share a common vision rooted in economic cooperation Elmer Schialer In terms of maritime connectivity, Peru plays a crucial role as a major logistics hub in Latin America, facilitating international trade through its well-developed port infrastructure. In 2024, Peru was ranked 37th in the Liner Shipping Connectivity Index, making it the third most connected country in South America. This enhanced logistical integration complements Peru's foreign policy, which is firmly based on international law and economic cooperation and offers Saudi companies a favorable gateway to expand their commercial presence in our region. Bilateral ties between Peru and Saudi Arabia began in 1986 with the establishment of diplomatic relations. Subsequently, Peru opened an embassy in Riyadh in 2012 and Saudi Arabia followed suit in Lima in 2013, marking a milestone in their relations. Since then, economic and political ties have grown progressively, reflected in trade exchanges that have reached a peak of $188 million in recent years. In addition, political consultation mechanisms facilitate dialogue and ensure that bilateral cooperation remains robust and forward-looking. These engagements provide a platform to advance negotiations and sign new agreements, such as the drafts of general cooperation and air services agreements. Saudi Arabia is an important partner for Peru in many ways. As the largest economy in the Middle East, it stands as a global leader in financial innovation, technological development and industrial growth. I deeply admire the ambition and clarity of purpose behind Vision 2030, which resonates strongly with Peru's own national development strategies. This alignment creates fertile ground for collaboration — not just at the governmental level, but among our business communities and societies as a whole. I truly believe that the complementarity between our two economies offers a powerful basis for a stronger and more dynamic partnership. We each bring unique strengths to the table. Peru, for example, is proud to be a trusted supplier of high-nutritional agricultural products like blueberries, grapes and avocados. At the same time, we recognize Saudi Arabia's vital role in providing industrial inputs and advancing technological innovation. This mutual exchange reflects the alignment of the two economies and underlines the potential for further expansion of trade and investment in infrastructure, mining, energy and related industries. The complementarity between our two economies offers a powerful basis for a stronger and more dynamic partnership Elmer Schialer Peru offers opportunities in a number of sectors. Notable projects include our petrochemical plant project, the Southern Peru Integrated Gas Transportation System and the 2025-2034 Transmission Plan in energy; El Galeno and Los Chancas in mining; and the Andean Longitudinal Highway (Section 4), the Ancon Industrial Park and the Ilo Desalination Plant in infrastructure. These large-scale initiatives offer unique opportunities for Saudi investors to contribute to Peru's economic transformation, while ensuring sustainable and profitable returns. It is worth noting that Saudi capital is already present in Peru, particularly in the oil and gas sector, providing a promising foundation for deeper bilateral investment ties. As I travel to Saudi Arabia, I do so with a sense of real excitement — for the conversations we will have, the opportunities we will uncover and the friendships we will strengthen. It is my firm conviction that Peru and Saudi Arabia can build a lasting and forward-looking relationship, one that is rooted in trust, respect and a shared commitment to growth. In this spirit, Peru warmly welcomes Saudi businesses, investors and policymakers to discover the vast opportunities that this dynamic relationship can offer. Together, we can open new economic frontiers and lay the foundation for a future of shared prosperity, innovation and enduring cooperation.

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