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Peruvian PM says increased Chinese investment won't cause 'resentment' in US | The powerful 790 KFGO

Peruvian PM says increased Chinese investment won't cause 'resentment' in US |  The powerful 790 KFGO
Peruvian PM says increased Chinese investment won't cause 'resentment' in US |  The powerful 790 KFGO

 


By Marco Aquino

LIMA (Reuters) Peru's government does not expect President Dina Boluarte's upcoming trip to China or increased investment by Chinese companies in the Andean nation to cause resentment in the United States, the Peruvian government said on Monday. Peruvian Prime Minister.

Boluarte will travel to Beijing at the end of this month, with meetings planned with his counterpart Xi Jinping and representatives of Chinese giants like Huawei and BYD, at a time when Chinese investments have multiplied in recent years, to the great dismay of the Western nations.

We don't think our friends like the United States will feel resentment because they are bringing Chinese investments (to Peru), Prime Minister Gustavo Adrianzen said at a news conference.

We believe this is an invitation to the arrival of Western capital, including from the United States, he added.

Boluarte is scheduled to meet Xi on June 28, but will first speak with executives of Cosco Shipping Ports, which is leading construction of the vast Chancay megaport, intended to become a hub between Asia and South America.

Xi will attend the port's inauguration in November, when the Asia-Pacific Economic Cooperation (APEC) Forum leaders' summit will also be held in Peru.

The $3.5 billion port of Chancay has sparked Brazil's interest in shipping exports to Asia, but it has also become an example of the challenge facing the United States and Europe to fight against the rise of Chinese investments in Latin America.

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Boluartes' agenda also includes meetings with Jinzhao Mining and infrastructure group China Railway Construction Corp.

Adrianzen said Monday that the decade-old proposal to build a train line connecting Peru with Bolivia and Brazil should be put back on the table to boost exports from Chancay.

Through the port, Brazil would be able to significantly reduce shipping times for key export commodities such as soybeans and meat that currently pass through the Panama Canal, analysts say.

The Bi-Oceanic Railway may not become a reality in the short term, the Prime Minister said, but could see the light of day as the megaport develops in the medium and long term.

Bolivia and Paraguay also want to ship their exports through Peru, Adrianzen said.

Paraguayan President Santiago Pena asked Boluarte that (Paraguayan) exports to Asia leave the port of Chancay during their meeting in September, the prime minister said.

China is Peru's largest trading partner, and more than a third of Peru's $65 billion in exports last year went to China.

(Reporting by Marco Aquino; writing by Kylie Madry; editing by David Gregorio)

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