Xi Jinping Kicks Off Chancay Megaport Opening As Trade Relations Flourish The new port symbolizes deepening ties between China and Peru, enhancing trade routes across the PacificOn November 14, 2024, Chinese President Xi Jinping inaugurated the Chancay Megaport during a ceremony attended by Peruvian President Dina Boluarte and various high-profile officials. Situated approximately 80 kilometers north of Lima on Peru's Pacific coast, the Chancay Port is geared up to become one of the most significant logistics hubs between Asia and Latin America. The potential economic benefits of the Chancay Port are significant, with estimates predicting it could generate around $4.5 billion annually for Peru and create over 8,000 jobs. The Chancay Port is also expected to significantly alter the logistics of agricultural exports, which is particularly important for South American nations eager to expand their market reach. Political analyst Parsifal D’Sola stated, "The Chancay port is the perfect opportunity to make a big splash, not only in Peru, but at a global level."

Source: The Express Tribune November 16, 2024 23:39 UTC