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Peruvian business delegates inspired by Xi's speech, seek stronger trade ties with China

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Peruvian business delegates inspired by Xi's speech, seek stronger trade ties with China

2024-11-17 01:35 Last Updated At:02:27

Peruvian business delegates have highlighted China's positive role in advancing global free trade, expressing their hope of further deepening trade and economic ties with the country after being encouraged by a written speech delivered on behalf of Chinese President Xi Jinping.

Ties between the two sides are in the spotlight as President Xi arrived in Peru's capital Lima on Thursday to pay a state visit to the Latin American country at the invitation of his Peruvian counterpart Dina Boluarte and to attend the 31st APEC Economic Leaders' Meeting, which is being held in Lima from Friday to Saturday.

Themed "Empower, Include, Grow", this year's meeting has gathered heads of state and other dignitaries from 21 member economies across the Asia-Pacific region, including China, the United States, and other major economies in Southeast Asia.

In a speech delivered on Xi's behalf by China's Minister of Commerce Wang Wentao at the APEC CEO Summit, the Chinese president called for efforts to guide economic globalization in the right direction, promoting an inclusive and universally beneficial globalization for the benefit of all countries and communities.

Jose Tam Perez, president of the Peruvian-Chinese Chamber of Commerce, a private institution founded to promote commercial exchange between Peru and China, said Xi's speech reflects China's strong advocacy for global free trade and opposition to protectionism, and emphasizes how China is playing an increasingly strong leadership role in the global economy.

"His speech was really inspiring because he's telling the world that China wants free trade and global trade and doesn't want protectionism measures. So that was very inspiring and very interesting to listen. China is taking the leadership of the world in the future of the world," said Tam Perez.

Another landmark moment in China-Peru ties came with the inauguration of the Chancay Port - a key project under the China-proposed Belt and Road Initiative (BRI) - on Thursday, which was attended via video link by the presidents of both countries.

Julio Perez Alvan, president of the Peruvian Association of Exporters, a non-profit organization dedicated to promoting exports, described Xi's presence at the "extraordinary" ceremony as a positive sign of the strengthening bilateral relations between the two sides.

"It was a very emotional moment for everybody. Even if it was virtual, but it was a very emotional time for us. [It was] very important, and the presence of Mr. President [Xi] of China only seems to have confirmed that for the two countries, this port is very important for their future relations, for the strategic relations that we have between our two countries," said Perez Alvan.

The port, located 80 kilometers north of Lima, will slash the shipping time between China and Peru to 23 days, cutting logistics costs by over 20 percent and directly creating more than 8,000 jobs.

Peruvian businesses are also eying up more cooperation and trade opportunities, with the port expected to deliver a big boost in this regard.

"We export to China mainly mining, agriculture and fish. But we hope in the future to attract more investment from China to produce here in Peru. For example, [Chinese automaker] BYD really wants to build a factory here in Peru. And [with] different countries, other countries and other companies maybe in the short term we can support industrial growth situation. That's our goal," said Felipe James Callao, President of the National Society of Industries of Peru, a non-profit institution that promotes the development of the manufacturing industry.

Peruvian business delegates inspired by Xi's speech, seek stronger trade ties with China

Peruvian business delegates inspired by Xi's speech, seek stronger trade ties with China

Russia has been subjected to targeted isolation by the West, with demands that other countries cut all ties with Moscow, including trade and diplomatic relations, said Russian Foreign Minister Sergey Lavrov, in an online press briefing in Moscow on Thursday.

Lavrov made the remarks when answering inquiries from a reporter of China Media Group (CMG), stressing that the West has resorted to threats, sanctions, and punishment, making demands on other countries to sacrifice their own interests and buy energy at higher prices under the guise of "punishing" Russia.

"The West has decided to completely isolate Russia in all fields and even made ridiculous demands on other countries that they should not contact Russian representatives, receive Russian visitors, visit Russia or trade with Russia. It even demanded other countries to sacrifice their own interests and buy energy at higher prices. This is the so-called Western foreign policy, which is basically threats, sanctions, and punishment. Josep Borrell, the recently retired High Representative for Foreign Affairs and Security Policy of the European Union (EU) said despite the West trying to isolate Russia, it did not succeed," said Lavrov.

Russia has been experiencing rounds of Western sanctions since February 2022, when the Russia-Ukraine conflict started. On Dec 16 the Council of the European Union adopted the 15th package of sanctions against Russia, focusing on Russia's so-called shadow fleet and anti-circumvention measures.

Russian FM criticizes Western foreign policy tactics of "threats, sanctions, punishment"

Russian FM criticizes Western foreign policy tactics of "threats, sanctions, punishment"

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