LIMA - China and Peru welcomed the signing of a protocol on upgrading the bilateral free trade agreement during Chinese President Xi Jinping's visit, said a joint statement issued Thursday.  

According to the joint statement, China and Peru will continue to support an open, transparent, and non-discriminatory multilateral trading system centered on the World Trade Organization (WTO).

Both countries are ready to continue to actively promote the reform of the WTO, restore the normal functioning of the dispute settlement mechanism, and enhance the authority and effectiveness of the multilateral trading system.  

According to the statement, China and Peru are willing to incorporate projects in such emerging areas as circular economy, sustainable agriculture, industrial and supply chains, digital economy investment and green development into bilateral cooperation.

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China and Peru will jointly explore new opportunities for cooperation under the framework of the Belt and Road Initiative to achieve mutual benefit and win-win results, and promote sustainable development of the two countries, according to the statement.

The two sides are also ready to cooperate on large-scale infrastructure projects in accordance with their respective national laws.

China and Peru stressed the importance of cooperation in artificial intelligence capacity building, and enhancing the digital competitiveness of all people, especially vulnerable groups.

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The countries are willing to enhance their cooperation on the fishing industry, so as to promote the sustainable development of this industry.

China and Peru reaffirmed their commitment to multilateralism, pledging to uphold the UN-centered international system and the international order based on international law.

The two sides also renewed their advocacy for strengthening multilateral cooperation and jointly tackling global challenges.