Based on bilateral friendly negotiation and written confirmation, China-Peru Free Trade Agreement shall enter into effect as of March 1, 2010 to be the 8th free trade agreement reached and implemented by China (inclusive of CEPA between the mainland and Hong Kong and Macao). China and Peru negotiated and signed the free trade agreement under the background of the financial crisis and commenced to implement the free trade agreement in the preliminary period of the post-crisis times of economic recovery, which is certain to strongly promote bilateral economic growth and friendly cooperation and further add substantive connotation to China-Peru strategic partnership.