China and Peru have decided to establish a "strategic partnership" as their increasingly enhanced relationship is at its optimal time, said a China-Peru joint press communique issued in Lima on Wednesday.

The communique was issued as Chinese President Hu Jintao is in Lima for a state visit to Peru and for the Economic Leaders' Meeting of the Asia-Pacific Economic Cooperation (APEC) forum slated for Nov. 22-23.

The communique said the two sides, within the framework of the strategic partnership, will deepen political ties of mutual trust and equality, expand mutually-beneficial, win-win and pragmatic cooperation, promote exchange in various fields and maintain close and friendly cooperation at different levels.

The Peruvian government has reiterated its respect for and recognition of the People's Republic of China's sovereignty and territorial integrity, and its adherence to the one-China policy, according to the communique. In return, China has voiced its appreciation for Peru's position.

In addition, the communique said Chinese President Hu and his Peruvian counterpart Alan Garcia have been satisfactory with their bilateral economic and trade ties.

Stressing the complementarity between the two countries' economy and trade and the cooperation potential in this regard, the two leaders pledged joint efforts to optimize commodity structure in bilateral trade and expand cooperation in mining, oil, telecommunications, fishing and infrastructure, the communique said.

Peru is one of China's major trading partners in Latin America, with two-way trade volume totaling 6 billion U.S. dollars in 2007.

(Xinhua News Agency November 20, 2008)