Brazil's president optimistic about G20 summit's outcomes

Brazilian President Luiz Inacio Lula da Silva expressed strong optimism in the upcoming G20 Summit reaching fruitful results in an exclusive interview with China Central Television (CCTV) prior to the 19th G20 Summit in Brazil.

The 19th G20 Summit is to take place in Brazil's city of Rio de Janeiro from Nov 18 to 19, under the theme of 'building a just world and a sustainable planet'. The summit will seek to address several global issues and development challenges, according to the Brazilian president.

"We will initiate the establishment of the Global Alliance to Combat Hunger and Poverty. I believe this is a remarkable initiative, proposed within the G20 but also open to all countries worldwide. Additionally, we are delving deeply into discussions on energy transition and climate issues. Research has proven that humanity has no viable living space beyond the Earth. Therefore, rather than seeking other planets, we should focus on improving the quality of the Earth's water and air, enabling us to live with dignity and respect," he said.

"At the same time, we aim to revisit the Bretton Woods system, particularly the roles of financial institutions such as the International Monetary Fund (IMF) and the World Bank. Currently, these institutions are not serving their intended purpose of helping developing countries in need of financing. Instead, they have become tools of oppression on impoverished nations. Today, Africa's debt has reached 900 billion U.S. dollars, and the interest payments surpass the investments these nations can make in development. I am advocating for converting part of African nations' debt to investments in infrastructure within Africa. We will also advance women's empowerment to ensure they can participate equally in political, economic and cultural activities," Lula added.

"Therefore, I am highly optimistic that this will be a productive and friendly G20 Leaders' Summit. I believe it will be a learning opportunity for all of us. Moreover, many people will be introduced to the magnificent city of Rio de Janeiro for the first time," he further said.

Created in 1999, the G20 is a main forum for international cooperation on financial and economic issues. It comprises the European Union, the African Union and 19 countries, including China and Brazil.

Brazil's president optimistic about G20 summit's outcomes

Brazil's president optimistic about G20 summit's outcomes

Peru's newly opened Chancay Port is creating new business opportunities for Peruvian entrepreneurs, according to a local business owner.

The launch of the Chancay Port will reduce sea freight time from Peru to Asia from 45 days to just 23 days. With shorter transit times and lower logistics costs, companies like Warmpaca can deliver popular Peruvian products, such as its beloved alpaca dolls, to Chinese customers much faster.

A week ago, Ysabel Zea, co-founder of Warmpaca, showcased her brand’s charming alpaca plush toys at the China International Import Expo (CIIE) in Shanghai. Having participated in the expo three times, Ysabel noted that China is a key market for her brand. However, she explained that one of the biggest challenges for her business has been the long transportation time between Peru and China.

"It takes too long. It's around 60 days from Lima to Shanghai. We need our products here right now," Ysabel said.

Following the launch of the new port on Thursday, which was constructed by a Chinese company, direct transit between Chancay and Shanghai is now possible, reducing transport time of Warmpaca's alpaca plush toys from over two months to just 35 days.

Ysabel said the port will create more opportunities for local entrepreneurs and generate additional jobs for the community.

"I feel very happy. I have a lot of hopes. It means future. It means work for more artisans in Peru. It means opportunities, more income for the families, better education for their sons and their daughters. It just means a lot of hope," said Ysabel.

The Chancay Port is located 80 kilometers north of Peru's capital, Lima, and is a key project under the Belt and Road Initiative between China and Peru.

Chancay Port brings more opportunities to Peruvian entrepreneurs