With a "go ahead and move on" in a telematic ceremony from the Government Palace, both leaders began operations of the megaport that aspires to become the new hub of regional trade.
More than five years after the project was signed, today the President of Peru, Dina Boluarte, and her counterpart from the People's Republic of China, Xi Jinping, finally participated in the inauguration of the Chancay Multipurpose Port Terminal, located about 80 kilometers north of Lima and built by the Chinese state-owned company Cosco Shipping.
With a "go ahead and move forward" in a telematic ceremony from the Government Palace, both leaders began operations at the Chancay megaport that aims to become the new hub of regional trade.
"Ports are important units for economic development, and in the case of the Chancay port, in addition to being a deepwater port, it is also the first smart and green port in South America. Once this work is completed, maritime transport between China and Peru will be reduced by more than 10 days, more than 20% of the logistics costs will be saved and considerable income and work units will be generated for Peru, thus consolidating Peru's status as a hub that articulates land and maritime transport and connects Asia with Latin America and the Caribbean," said the Chinese president.
Xi called Chancay Port the “starting point” of the 21st Century Silk Road.
The Peruvian president added: "The Chancay Megaport will consolidate our country as a bridge between Latin America and Asia, facilitating more dynamic and efficient transoceanic trade. This project reflects how Chinese investment and mutual cooperation can be drivers of sustainable development and progress for our nations. Mr. President, I am convinced that the exchanges and agreements we achieve within the framework of this visit will allow our peoples to build a future of shared knowledge, thus strengthening our relations for the benefit of future generations. Welcome, President Xi."
Boluarte also highlighted that China plays a key role in the growth of the Peruvian economy. In this regard, he highlighted the Comprehensive Strategic Partnership that has been in place since 2013 and that has strengthened bilateral relations in the areas of trade, technology, infrastructure and innovation and has made China Peru's main trading partner.
"China is the destination of more than 36% of our exports and the origin of an investment of more than US$ 30 billion, positively impacting key sectors such as mining and infrastructure. The Chancay megaport with an initial investment of US$ 1.3 billion symbolizes the potential of this collaboration and will contribute a percentage point to the GDP of our country, once its operations begin. Its importance is undeniable, not only will it connect our products more efficiently with Asian markets but it will also boost Peru's competitiveness by generating more jobs," he noted.
Likewise, Dina Boluarte said that with the port of Chancay, the country offers its "Latin American partners a gateway for connection in both directions with the most dynamic region in the world, the Asia-Pacific. We invite them to have Chancay as their gateway to the world. Peru will welcome them with open arms, always guaranteeing legal security."
Likewise, the Minister of Transport and Communications of Peru, Raúl Pérez Reyes, pointed out that the inauguration of the port of Chancay marks a milestone in the national port infrastructure, in addition to being a historic day for relations between Peru and China.
“This project, the result of investment by Cosco Shipping and collaboration between Peru and China, represents a giant step towards modernizing our logistics infrastructure and strengthening our position as a commercial hub in the South Pacific region,” he added.
The infrastructure built will attract the largest container ships and reduce the sea journey to China by 12 days.
