Politics
Chancay in Peru: China's megaport of entry into South America
Huge cranes tower over Peru's new Chinese-funded port of Chancay, a symbol of Beijing's growing influence in South America and expected to be inaugurated by President Xi Jinping on Thursday.
“It’s almost ready,” said Gonzalo Rios, deputy general manager of the Peruvian subsidiary of Chinese port operator Cosco Shipping, which has a 60 percent stake in the facility, during a recent visit to the port in deep water.
Located about 80 kilometers north of the capital Lima, the $3.5 billion complex is expected to become a major hub for trade between South America and China.
Chancay's maximum depth is 17.8 meters (58.4 feet), two meters deeper than Lima's Callao Port, making it capable of accommodating the world's largest container ships.
“With the addition of this port, this part of the Pacific and Peru in particular could become the logistics hub of South America,” Rios told AFP.
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The facility will be unveiled by Xi and his Peruvian counterpart Dina Boluarte on the sidelines of this week's Asia-Pacific Economic Cooperation (APEC) summit in Lima.
The port is the latest addition to the vast collection of railways, highways and other infrastructure projects built under China's massive Belt and Road Initiative.
Launched in 2013, the program initially aimed to better connect China with Europe, Africa and the rest of Asia, but has since expanded to South America.
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Chancay, a fishing town of around 50,000 inhabitants, was chosen for its strategic location in the heart of South America.
Cosco Shipping Ports, which has a 30-year concession to operate the terminal, expects it to handle up to one million containers in its first year of operation.
Chancay is expected to become a major hub for imports of electronics, textiles and other Asian consumer goods, as well as the export of minerals, including lithium – a metal used in cell phone and battery batteries. laptops – from Chile and copper from Chile and Peru. .
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“Peru is a source of raw materials for China,” Oscar Vidarte, professor of international relations at the Pontifical Catholic University of Peru, told AFP.
Bilateral trade between the Asian giant and Peru, one of Latin America's fastest-growing economies over the past decade, stood at nearly $36 billion in 2023, making Peru the China's fourth largest Latin American trading partner.
“Our goal is to become the Singapore of Latin America,” Peruvian Transport Minister Raul Perez told reporters in Chancay.
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“We will have direct connections to Asia, particularly to China, which will reduce (delivery times) by 10, 15, or even 20 days, depending on the route,” compared to 35 to 40 days currently, he said. he clarified.
The Chancay port will also serve Chile, Colombia and Ecuador, among other South American countries, allowing them to bypass ports in Mexico and the United States for their trade with Asia.
“This will allow China to position itself in this part of the world,” Vidarte said.
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Francisco Belaunde, a professor of international law at the University of Lima and other faculties, called it “part of the battle for geopolitical influence” in South America between China and the United States.
Connected to the Pan-American Highway – a network of roads connecting most of North and South America along the Pacific – through a kilometer-long tunnel, the port will use artificial intelligence to inspect containers of drugs and other illicit goods, according to Perez, the transportation minister.
Peru is the world's largest producer of cocaine after Colombia.
Currently, much of the drug is smuggled through the port of Guayaquil in neighboring Ecuador.
“We will use the most advanced technology to guarantee the security of the containers,” Perez said.
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