The recent inauguration of Chancay Port in Peru has captured global attention, signaling a new era of Asia-Pacific economic cooperation. From the arrival of the first ship to its official opening, the port has boosted confidence in more open and inclusive development across the region.
A New Gateway Connecting Asia and Latin America
Chancay Port, a collaborative project between Peru and China under the Belt and Road Initiative (BRI), is set to dramatically reduce sea shipping time between Peru and China to just 23 days, cutting logistics costs by at least 20 percent. With an expected annual revenue of $4.5 billion for Peru and the creation of over 8,000 direct jobs, the port is poised to become a key hub for trade between Latin America and Asia.
Designed to accommodate ultra-large container ships with a capacity of 18,000 twenty-foot equivalent units (TEUs), Chancay Port has a planned annual throughput capacity of 1 million TEUs in the near term and 1.5 million TEUs in the long term.
In his address via video link at the port’s inauguration ceremony, Chinese President Xi Jinping remarked, “What we are witnessing is not only the root and blossom of the BRI in Peru but also the birth of a new gateway that connects land and sea, Asia and Latin America.”
Peruvian Hopes for Economic Growth
Senior Peruvian officials and citizens express optimism about the opportunities the first smart and green port in South America will bring.
Peruvian Prime Minister Gustavo Adrianzen stated that the cooperation between China and Peru, exemplified by the Chancay Port project, will generate more job opportunities and spur economic growth, thereby improving people’s living standards.
Jose Tam, president of the Chinese-Peruvian Chamber of Commerce, described the port as an “engine” for the local economy, highlighting its potential to stimulate growth.
Juan Carlos Capunay, former executive director of the APEC Secretariat and former Peruvian ambassador to China, emphasized the port’s role in deepening bilateral relations and fostering practical cooperation between China and Peru.
Local entrepreneur Cielo Augusto is looking forward to building new business opportunities, noting that industries such as hospitality will also benefit from the influx of international visitors.
“The port will save time, increase efficiency, and bring new opportunities to Peru,” said Peruvian citizen Karla Santuyomarca.
A survey by CGTN revealed that 78.3 percent of Peruvian respondents support their country’s participation in the BRI, including the Chancay Port project. Additionally, 93.6 percent expressed support for deepening practical cooperation in various fields between China, Peru, and other Latin American countries.
Enhancing Asia-Pacific Connectivity
With its official opening, Chancay Port is expected to integrate Latin America more closely into the dynamic economic framework of the Asia-Pacific, significantly enhancing connectivity within and beyond the continent.
Peruvian Foreign Minister Elmer Schialer Salcedo remarked, “The Pacific Ocean does not separate us, but it connects us,” highlighting that Chancay Port will halve the time and costs of connecting South America with Asia.
Carlos Aquino Aquino Rodriguez, professor of Asian economies at San Marcos National University, stated that the port is crucial to the economic development and connectivity of the Asia-Pacific region. He noted that it can promote mutual benefits for raw material buyers, suppliers of manufactured goods, and investors.
In a global poll conducted by CGTN on Asia-Pacific cooperation, 93.7 percent of respondents called on all parties in the region to forge consensus and build an Asia-Pacific community with a shared future characterized by openness, inclusiveness, innovative growth, connectivity, and win-win cooperation.
Reference(s):
cgtn.com
