Peru, Japan strengthen ties with defense and mining agreements

LIMA (Reuters) – Peru’s president signed defense and mining cooperation deals with her Japanese counterpart on Sunday, following an official visit between the two leaders just after the Asia-Pacific Economic Cooperation summit hosted by Lima.

The agreements were signed by Peru’s President Dina Boluarte and Japanese Prime Minister Shigeru Ishiba, who in remarks touted what he described as a 10-year cooperation roadmap.

Part of the deal involves assistance to boost mining supply chains. Peru is one of the world’s top copper producers, while Japan is a major consumer of the key industrial metal.

In the aftermath of the APEC summit, Peru also inked a defense cooperation deal with South Korea, including a submarine agreement with Hyundai Heavy Industries (KS:009540) and another deal with Korea Aerospace Industries to manufacture parts for fighter aircraft, according to Boluarte’s foreign minister.

Last week, Peru formally inaugurated the Chinese-built Pacific coast megaport of Chancay, promising faster and more efficient trade between Latin America and Asia, with China’s President Xi Jinping in attendance.