The vast expanse of the Pacific Ocean once seemed an insurmountable distance between Asia and South America. Today, that ocean feels a little smaller, thanks to human ingenuity and cooperation.
Approximately 80 kilometers from Lima, the Peruvian capital, the newly inaugurated Chancay Port stands as a beacon of connectivity. As the first smart and green port in South America under the Belt and Road Initiative, it represents a significant milestone in Sino-Latin American relations.
Upon the completion of its first phase, Chancay Port is set to reduce shipping time from Peru to China to just 23 days, slashing logistics costs by at least 20 percent. With a tunnel connecting it to the Pan-American Highway, goods from across Latin America can be efficiently transported to the port, and from there, embark on sea voyages to Asia.
Edgar Perez, an American-Peruvian business author, highlighted the impact of this development: “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.”
In a video address at the port’s inauguration ceremony, Chinese President Xi Jinping remarked, “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 defies conventional wisdom. Despite the vast ocean between them and differing political landscapes, they have fostered strong ties. Since 2000, China-Latin America trade has skyrocketed from $12 billion to nearly $490 billion, with expectations to surpass $500 billion in 2024. For ten consecutive years, China has been Peru’s largest trading partner and largest export market.
Chancay Port is poised to become the starting point for a new land-sea corridor between China and Latin America, further enhancing economic cooperation and bringing continents closer together. As the Pacific becomes metaphorically smaller, the opportunities for mutual growth expand.
Reference(s):
cgtn.com
