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Economy

Belt and Road initiative poised to unlock regions' potential

2025-01-03 08:24:41China Daily Editor : Li Yan ECNS App Download

Expanded global network enhancing cooperation and opportunities, experts say

For Gonzalo Rios, Chancay Port in Peru is more than just a workplace — it represents dedication and commitment.

Since joining the port in 2019, Rios has closely followed its development, from construction to installation, and has been deeply involved in the preparation, building, and operational phases of the project.

Recalling its opening ceremony, Rios said: "Every detail was meticulously planned, and we witnessed the dedication that went into making this event happen."

The port, a flagship project under the Belt and Road Initiative, was inaugurated on Nov 14 by President Xi Jinping and his Peruvian counterpart, Dina Boluarte, via video link.

"There is a deep sense of satisfaction in seeing the efforts of a great team, that has demanded many hours of work and coordination, come to fruition," Rios told China Daily.

"It marked the beginning of the port's operational journey," said Rios, now the deputy general manager of the port, located about 80 kilometers north of Peru's capital, Lima. "This was a profoundly meaningful process, with each step contributing to facilitating commercial exchanges between our countries."

Construction of the port began in 2021. The mega project, invested by COSCO Shipping, is expected to become a major logistical hub for South America, with projections indicating it will generate $4.5 billion in annual revenue for Peru and create over 8,000 jobs.

Rios highlighted the successful collaboration between the Chinese and Peruvian teams. "The structure and thoroughness of our Chinese team, have worked seamlessly with the adaptability and creativity of our Peruvian colleagues," he said.

On Nov 25, the Xin Shanghai vessel departed from Chancay Port, carrying the first shipment of goods destined for Shanghai.

Previously, shipping routes from South America to China often took detours through regions such as North and Central America, resulting in delivery times of 33 to 43 days.

Thanks to the opening of Chancay Port, the journey to Shanghai has been reduced to just 23 days.

The vessel arrived at Shanghai's Yangshan Port on Dec 18, carrying produce including blueberries, avocados and grapes, to be distributed to consumers across China.

"The development of the Chancay Port in Peru holds significant implications for Latin America, particularly in terms of trade and infrastructure," Alana Camoca, a professor of political science and international relations at Rio de Janeiro State University, told China Daily.

"The port's expansion and modernization are expected to enhance the efficiency of logistics and transport networks, facilitating increased trade between Asia, particularly China and Latin American countries," she said.

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