It doesn’t make any difference unless it is: Iran, Syria, Gaza (i.e. Hamas), West Bank (i.e. PLO) or the remnants of Al Queda and ISIS.
Having a peace treaty with a country with which you aren’t engaged in an active war is meaningless.
Peace means you can abolish conscription, cut taxes and demilitarize your political and economic systems.
Also, a peace treaty with an unpopular dictator is worthless since it only binds the dictator, not the country.