China and Peru announced on Friday "the substantive conclusion of negotiations" on the upgrading of a free trade agreement (FTA), six years after the negotiations were launched in 2018.
The announcement was made after President Xi Jinping met in Beijing with visiting Peruvian President Dina Ercilia Boluarte Zegarra, who is making her first state visit to China since taking office in 2022.
China and Peru on Friday signed a memorandum of understanding (MOU) between the Chinese Ministry of Commerce and the Peruvian Ministry of Foreign Trade and Tourism on completing the substantive negotiations to upgrade the FTA.
The two sides will speed up the completion of legal review and domestic procedures, and strive to sign the upgrade protocol as soon as possible, according to the MOU.
The substantive conclusion of negotiations is believed to help further tap the trade and investment potential of the two countries.
China and Peru committed to continuing to create a non-discriminatory, transparent, fair and open business environment for their enterprises, so as to further protect and promote two-way investment.
The two countries stressed that they will continue to jointly support multilateralism and open regionalism, and oppose trade protectionism and unilateralism.
China recognizes the positive significance of the priority areas of cooperation identified in the Peru Year of the Asia-Pacific Economic Cooperation (APEC) in 2024.
Peru welcomes China's willingness to join the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), reiterating that the CPTPP remains open to the accession of economies that can meet the three Auckland Principles.
Peru was one of the first Latin American countries to establish diplomatic relations with China, and was the first Latin American country to sign a comprehensive free trade agreement with China in April 2009.
At the end of 2018, the two sides launched negotiations to upgrade the FTA, covering such areas as rules of origin, customs procedures and trade facilitation, sanitary and phytosanitary measures, and service trade.
China-Peru free-trade talks reach substantive conclusion
China-Peru free-trade talks reach substantive conclusion
China has intensified its flood control efforts as the country's Yangtze River is experiencing its 2024 "No.1 Flood".
Due to continuous rainfall, the water level of Taihu Lake has risen to 3.81 meters as of Sunday afternoon, with 24 monitoring stations exceeding the warning level. Currently, Suzhou City of east China's Jiangsu Province has raised the emergency flood response level to Level III.
"In just a short span of 15 and a half hours, the water level [at Taipu sluice gate] rose by 21 centimeters. At present, Taipu sluice gate is discharging water downstream in accordance with the instructions from the Taihu Lake Basin Authority," said Ze Zhenrong, director of the Taipu River Management Office, Taihu Lake Basin Authority.
According to meteorological forecasts, the Taihu Lake Basin will continue to experience rainfall in the next three days, leading to a continued rise in the water level of the lake. It is possible that the water level may exceed four meters, indicating a severe flood control situation.
Affected by persistent heavy rainfalls, multiple tributaries connected to Dongting Lake and Poyang Lake, China's two largest freshwater lakes, have seen major flooding.
At 09:00 on Sunday, the water level at the Chenglingji hydrological station of Dongting Lake, in central China's Hunan Province reached 33 meters, surpassing the warning line.
The city of Yueyang has mobilized over 3,000 grassroots Party organizations and more than 80,000 Party members and officials to conduct 24-hour patrols.
Due to rainfall, a road collapse occurred on the Yueyang section of Pingjiang-Dongko Expressway at 08:00 on Sunday. The traffic police implemented temporary traffic control measures. Thanks to a timely response, there were no vehicles falling or casualties at the scene. Currently, the site of the collapse is still undergoing emergency repairs.
Also, starting from Saturday, the water level in the Wushui River section of Xinhuan County in Hunan's Huaihua City has been continuously rising. Local authorities immediately began relocating affected residents to safe areas. By the early morning of Sunday, a total of 28,000 people had been relocated in the area.
In addition, the education bureau of Huaihua issued a notice on Sunday, suspending all offline educational activities in primary and secondary schools, kindergartens, and extracurricular training institutions throughout the city.
Due to continuous rainfall and upstream inflows, the water level of Poyang Lake in east China's Jiangxi Province continues to rise even after surpassing the warning level. As of 09:00 on Sunday, the water level at the lake's landmark Xingzi hydrological station had exceeded the warning level by 1.69 meters.
China intensifies disaster control efforts as Yangtze River sees first flood of 2024
