China opens first Latin American port in Peru to boost trade links: Video

"Senior Chinese Leader Event" on the sidelines of the APEC summit, in San Francisco

China's President Xi Jinping speaks at the "Senior Chinese Leader Event" held by the National Committee on US-China Relations and the US-China Business Council on the sidelines of the Asia-Pacific Economic Cooperation (APEC) summit in San Francisco, California, U.S., November 15, 2023. REUTERS/Carlos Barria/Pool/Fille Photo

Source: X90035

Chinese President Xi Jinping has inaugurated a $3.5 billion port in Chancay, Peru, the first Beijing-funded port in Latin America.

Peru's President Dina Boluarte attended the virtual ceremony, which highlighted the port's role in boosting trade between China and South America.

The port, located about 80 kilometres north of Lima, is part of China’s Belt and Road Initiative. Xi described it as the region’s "first smart and green port," emphasising its ability to cut shipping times by over ten days and reduce logistics costs by more than 20%. Boluarte called China a major contributor to Peru’s economic growth.

U.S. officials, however, have warned against unchecked Chinese investments. Brian Nichols, a senior U.S. diplomat, urged Latin American countries to ensure such projects respect laws and safeguard human rights and the environment.

The Chancay port will serve Peru and neighbouring nations, easing trade with Asia. Once fully operational, it is expected to handle up to one million containers in its first year, transforming the small fishing town into a major logistics hub.

Wonder Hagan