US Warns Peru Against Comparing Chinese Investments

The United States has urged Peru not to compare American investments with those of China, highlighting the legal certainty and transparency offered by American investments. Jose Fernandez, the US Undersecretary of State for Economic Growth, Energy, and the Environment, emphasized that American investments, primarily private, require more time to materialize compared to Chinese investments, which are often state-backed. He clarified that American investments are not instruments of foreign policy, while highlighting the importance of evaluating investments based on their legal predictability, adherence to international labor agreements, and environmental sustainability. Fernandez also underscored the positive impact of the US-Peru Free Trade Agreement (FTA), signed 15 years ago, which has seen bilateral trade nearly triple to $27 billion. He acknowledged China’s significant investments in Peru, exceeding $30 billion, but emphasized the US’s commitment to creating formal jobs in Peru, particularly in the mining sector.