China and Peru sign agreement to boost energy and mining cooperation

Mar 26, 2008 01:00 AM

China said it signed an initial agreement with Peru to enhance cooperation in energy and mining.
The memorandum of understanding was signed on March 19, the National Development and Reform Commission, China's top economic planner, said.

China is sourcing energy and mining products globally to meet surging demand, spurred by an economy that expanded 11.4 % last year, the most in 13 years.
Peru's mining exports rose 15 % to a record $ 16.9 bn last year as China, Japan and Switzerland bought more metals, the National Society of Mining, Petroleum & Energy said Jan. 24. Peru exported 1.2 mm tons of crude oil to China in 2007, an increase of 15 % from a year earlier, according to data from the Beijing-based Customs General Administration.

Source / Bloomberg.com
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