China and Peru have taken a significant step in strengthening their ties with the inauguration of the Chancay Port, a key project under the Belt and Road Initiative (BRI). Chinese President Xi Jinping and Peruvian President Dina Boluarte participated in the ceremony, underscoring the importance of this collaboration.
Located just 80 kilometers north of Lima, Chancay Port is set to become a crucial gateway between Asia and Latin America. Designed to handle mega container ships, the port will reduce shipping times between Peru and China to just 23 days, cutting logistics costs by over 20%. This development is expected to boost Peru’s economy, generating an estimated $4.5 billion annually and creating over 8,000 direct jobs.
President Xi described Chancay Port as “a new starting point of an Inca Trail of the New Era,” symbolizing a modern link between the two nations. The port connects directly to the Pan-American Highway, enabling efficient transportation to other parts of Peru and neighboring countries, fostering regional integration.
Beyond its economic impact, Chancay Port is committed to environmental sustainability. An animal rescue center has been established to protect local wildlife, and efforts are underway to improve wetlands and beaches. This focus on green development aligns with both countries’ commitment to sustainable progress.
The two leaders also witnessed the signing of a cooperation plan under the BRI and an updated free trade agreement. These agreements aim to enhance trade, investment, and technological collaboration, paving the way for shared growth and prosperity.
President Boluarte hailed President Xi’s visit as a historic milestone that opens a new chapter in the Peru-China partnership. Both nations share a vision of addressing global challenges through multilateralism and oppose protectionism.
Chinese investments are already making a positive impact in Peru’s green technology sector. Electric vehicles and renewable energy projects funded by Chinese enterprises are contributing to Peru’s energy transition and efforts to reduce emissions.
As China and Peru deepen their cooperation, they set an example of how countries can work together for mutual benefit. The enhanced partnership promises new opportunities for both nations and reinforces their roles in the global community.
Reference(s):
'Neighbors' across Pacific: China, Peru exemplifies win-win spirit
cgtn.com
