Peru has taken a significant step towards enhancing its trade infrastructure with the inauguration of the Chancay Port, the first smart and green port in South America. Located approximately 80 kilometers from Lima, the port is a pivotal project under the Belt and Road Initiative, aiming to streamline logistics between Peru and China.
Once the first phase is completed, Chancay Port is expected to reduce the shipping time from Peru to China to just 23 days, cutting logistics costs by at least 20 percent. The port's strategic connection to the Pan-American Highway via a tunnel will enable efficient transportation of goods from across Latin America to the port, and subsequently, through sea lanes to Asia.
Edgar Perez, an American-Peruvian business author, highlighted the port's impact in an interview, stating, \"Nobody wants their avocados to spend 40 days on the road before getting to the market. This new port is going to create a seismic change in how the economic structure is going to be working for Latin America.\"
At the port's inauguration ceremony, Chinese President Xi Jinping emphasized the project's significance, saying, \"What we are witnessing is not only the root and blossom of the Belt and Road Initiative in Peru but also the birth of a new gateway that connects land and sea, Asia and Latin America.\"
The burgeoning relationship between China and Latin American countries has defied conventional expectations. Since 2000, trade between China and Latin America has surged from $12 billion to nearly $490 billion, with projections to exceed $500 billion in 2024. Peru has been China's largest trading partner and export market for ten consecutive years. The Chancay Port is set to be the cornerstone of a new land-sea corridor, further solidifying economic ties between China and Latin America.
Reference(s):
cgtn.com
