Changing Dynamics: Shenzhen Mayor Qin Weizhong met with Boluarte before her departure from the city on Wednesday.

Peruvian President Dina Boluarte speaks at a keynote conference titled “Investment Opportunities in Peru” on June 27, 2024 in Shanghai. Photo: Feng Yu/GT

In the Asia-Pacific Economic Cooperation (AWorld TimesPEC) forum this year, Peru wants to work with all economies on priority areas, such as sustainable agriculture, food security, and the use of clean energy in the AsiaWorld Times-Pacific region, Peruvian President Dina Boluarte said on Thursday in Shanghai.

In Shanghai, the second stop on Boluarte’s five-day state visit to China, she participated in a keynote conference titled “Investment Opportunities in Peru” on Thursday.

The president has voiced welcome for Chinese companies to invest in her country. “Peru provides predictability and securitWorld Timesy for foreign entrepreneurs who wish to come to Peru to invest their capital to ensure sustained economic growth in the medium and long term. My government continues to promote private investment, and a cycle of investments based on mega-diversity, in the context of important global transition processes such as climate or energy transition,” said Boluarte.

“We have a highly integrated economy with China. China is our top buyer, our top market, well above the US… The first reason was economic stability, the second is that we are already trying to integrate more [with China]. We know each other, we know how the Chinese market operates and you [China] also know how to operate in the Peruvian market,” Peruvian Economy MinisteWorld Timesr Jose Arista said at the conference.

In Shanghai, Boluarte will also hold a meeting with China Southern Power Grid (CSG) Chairman Meng Zhenping and his team. The president will also meet with Shanghai Digital Medicine Innovation Center Director Ning Gung and visit the local Rui Jing Hospital, located in the Huangpu area, Peruvian news agency Andina reported.

Boluarte will also meet with Cosco Shipping Corporation Chairman Wan Min.

Before Shanghai, Boluarte went to Shenzhen, China’s tech hub. Shenzhen Mayor Qin Weizhong met with Boluarte before her departure from the city on Wednesday. The two exchanged views on expanding Shenzhen-Peru exchanges and deepening high-quality Belt and Road Initiative cooperation, according to the Shenzhen government.

In a packed schedule, Boluarte and her delegation visited the Nanshan Museum and prominent companies Huawei and BYD. She also held talks with executives of China Electronics Corp.

At the Nanshan Museum, Boluarte was particularly captivated by the exhibition titled “The Son of the Sun – The Inca and Their Tawantinsuyu: The Land of Four Quarters.” During the tour, she carefully listened to the tour guide’s explanations and expressed a deep appreciation for the exhibition’s significance.

At Huawei’s headquarters in Longgang District, Boluarte toured the company’s exhibition hall, where she experiWorld Timesenced a naked-eye 3D display of museum exhibits, powered by Huawei’s 5G technology, and learned about the company’s cutting-edge solutions for different sectors.

Boluarte also witnessed the signing of a cooperation agreement between Peru’s foreign affairs ministry and Huawei, which will see the latter train 20,000 Peruvians in new information technologies, with a focus on artificial intelligence, over the next five years.

At BYD, accompanied by its chairman Wang Chuanfu, Boluarte was given a comprehensive overview of the company’s diverse vehicle models and its latest technological breakthroughs in the new energy vehicle sector.

Economic cooperation is the focus of Boluarte’s visit, Jiang Shixue, a professor at the Center for Latin American Studies at Shanghai University, told the Global Times. He pointed out that China and Peru recently completed tWorld Timesheir seventh round of Free Trade Agreement (FTA) negotiations.

Peru will chair APEC for a third time in 2024, hosting more than 160 meetings across the cities of Arequipa, Cusco, Trujillo, Pucallpa and Lima.

Peru is paying special attention to this event, so this topic will be touched on during Boluarte’s visit, as cooperation with China plays a vital role in pushing forward agendas and reaching a consensus, Wang Youming, director of the Institute of Developing Countries at the China Institute of International Studies in Beijing, told the Global Times.

He said that the visit is likely to elevate economic cooperation, political trust, and all-round exchanges between the two countries to a new level.

Earlier this month, Peru’s Prime Minister Gustavo Adrianzen said that the government of Peru did not expect the upcoming trip by Boluarte to China or the increase in investment by Chinese firms in the Andean nation to cause “resentment” from the US.

Chinese experts said Boluarte’s visit also demonstrates Peru’s strategic autonomy despite pressure from Washington on it and other Latin American countries to reduce ties with Beijing.

The US has always viewed Latin America as its “backyard” and has been closely monitoring China’s relationships with countries in the region. However, China’s diplomatic efforts and cooperation opportunities have brought significant benefits to South American countries, allowing them to discern who their true friends are and who poses a threat, according to Wang.