The recent inauguration of Chancay Port has captured global attention, signaling a significant leap towards more open and inclusive Asia-Pacific economic development. This collaborative project between Peru and China under the Belt and Road Initiative (BRI) promises to transform trade dynamics by reducing sea shipping time from Peru to China to just 23 days, cutting logistics costs by at least 20 percent.
Chancay Port is set to become a crucial hub for trade between Latin America and Asia, with the capacity to accommodate ultra-large container ships carrying up to 18,000 twenty-foot equivalent units (TEUs). In the near term, the port is designed to handle an annual throughput of 1 million TEUs, expanding to 1.5 million TEUs in the long run.
Chinese President Xi Jinping highlighted the port's significance during his address via video link, describing it as \"the root and blossom of the BRI in Peru\" and a new gateway connecting land and sea, Asia and Latin America.
Peruvian Prime Minister Gustavo Adrianzen expressed optimism about the project's impact, stating that the cooperation with China would bring more job opportunities and economic growth, thereby improving living standards for Peruvians. Additionally, Jose Tam, president of the Chinese-Peruvian Chamber of Commerce, referred to the port as an \"engine\" for the local economy.
Local entrepreneurs like Cielo Augusto are eager to capitalize on the new opportunities, anticipating growth in industries such as hospitality due to the expected influx of international visitors. A recent CGTN survey revealed strong public support in Peru for participation in the BRI, with 78.3 percent favoring projects like Chancay Port and 93.6 percent advocating for deeper cooperation between China, Peru, and other Latin American nations.
Peruvian Foreign Minister Elmer Schialer Salcedo emphasized that the Pacific Ocean serves as a connector rather than a divider, with Chancay Port poised to halve the time and costs of linking South America with Asia. Experts like Carlos Aquino Aquino Rodriguez believe that the port is pivotal for the economic development and connectivity of the Asia-Pacific region, fostering mutual benefits for raw material buyers, suppliers, and investors alike.
With its strategic location and advanced infrastructure, Chancay Port is not just a testament to Peru-China collaboration but also a beacon of enhanced Asia-Pacific cooperation, promising a future of innovative growth, connectivity, and win-win partnerships.
Reference(s):
cgtn.com
