ARTICLE: Peru ratifies free trade deal with China, AFP, Dec 6, 2009

The key bits:

The deal will lead to the gradual removal of tariffs on more than 90 percent of goods ranging from Chinese electronic products and machinery to Peruvian fishmeal and minerals, Xinhua news agency said when the pact was signed.

Under the deal, the two nations also pledged to further open their service sectors and offer favorable treatment to investors.

China has become mineral-rich Peru's second largest trading partner after the United States.

Peru is a major producer of lead, zinc, copper, tin and gold.

Common theme in Latin America: U.S. still #1 trade partner, but suddenly--out of nowhere--China is number two with minerals as the key draw.

(Thanks: VacationLaneGrp)