China and Peru agreed on Monday to make joint efforts to ensure the successful development of the Chancay Port, speed up negotiations on upgrading their free trade agreement and conclude a bilateral agreement to avoid double taxation.

These consensuses were reached during a meeting in Beijing between Foreign Minister Wang Yi and Peruvian Foreign Minister Elmer Schialer Salcedo.

In November last year, the opening of Chancay Port marked a significant milestone in strengthening solidarity and cooperation among developing countries and accelerating their development, Wang said, highlighting the strategic importance of the project that goes beyond bilateral relations.

A direct shipping route between Chancay and Shanghai has now been fully established, contributing to the development of a growing container shipping network that connects multiple countries in Asia and Latin America.

Wang noted that the port project will enhance Peru's capacity for independent development and enable it to play a more prominent role in Latin America's overall progress, which fully proves that deepening practical cooperation between China and Peru aligns with Peru's fundamental and long-term interests.

Peru is among the first Latin American countries to join the Belt and Road Initiative and the first in the region to sign a comprehensive free trade agreement with China. China has been Peru's largest trading partner and export market for 11 consecutive years.

Wang expressed strong confidence in the future of bilateral relations and voiced China's willingness to work with Peru to elevate their comprehensive strategic partnership to new levels, delivering greater benefits to both peoples.

Peru always firmly adheres to the one-China principle and stands ready to expand cooperation with China across the political, economic, scientific, technological and cultural fields, Schialer said.

The two sides also exchanged views on China–Latin America cooperation and pledged to work together to ensure the full success of the fourth ministerial meeting of the China—Community of Latin American and Caribbean States Forum.