Both countries ended last November talks and legal arrangements that had lasted 14 months, freeing up from tariffs about 90 percent merchandise including Chinese electronic equipment, machinery and fish meal, and Peruvian minerals.

Zhu Hong, vice director of the Foreign Trade Ministry International Department, said both parties promised to open their services and give favorable treatment to each other's investors.

China-Peru bilateral exchange in 2008 rounded $7.5 billion.