The Peruvian Embassy celebrated its 191st national day in Seoul on Thursday as this year marks the first anniversary since the free trade agreement between both countries went into effect.

Peruvian charge d’affaires Eduardo Castaneda also noted the 50th anniversary of diplomatic ties between both countries in 2013, adding that the “ties between our nations will grow stronger day by day.”

He also hoped that the FTA, which went into effect on Aug. 1 last year, would increase commercial trade between the two countries.

Bilateral trade between the two countries has gone from $531 million in 2005 to $3.32 billion in 2011, with exponential growth in the last three years.

Earlier in May, both countries decided to upgrade their relationship to a “comprehensive strategic partnership,” which will deepen cooperation business, trade and technology.