A promotional event for Chancay Port, a new land-sea corridor connecting Asia and Latin America, was held in Lima, Peru on Wednesday with a focus on the important role played by the groundbreaking maritime trade route.
A collaborative project between China and Peru under the Belt and Road Initiative, the China-backed mega port, located in the Chancay Bay, is about 80 kilometers north of Peruvian capital Lima and connects the city with China's economic hub of Shanghai.
The event was organized by COSCO Shipping Lines (Peru) S.A. and COSCO Shipping Ports Chancay Peru S.A., both firms under the Chinese shipping conglomerate COSCO. It attracted nearly 300 attendees, including government officials, diplomats, as well as business leaders and scholars.
Speaking at the event, Chinese Ambassador to Peru Song Yang highlighted that the new Asia-Latin America land-sea corridor, which was launched in November last year, can bring down direct shipping costs from Chancay to Shanghai by over 20 percent.
He said that the port is expected to generate 4.5 billion U.S. dollars in annual revenue for Peru and directly create over 8,000 jobs.
The event also featured COSCO Shipping Lines (Peru) S.A. introducing its efficient and reliable shipping services.
"On the import side, we have provided one-stop solutions for Chinese automobile and home appliances exporters to Peru. In addition to fast delivery times, we offer services such as on-site unloading of cars and delivery of home appliances to customers' doorsteps. This allows local recipients in Peru to enjoy more convenient, time-saving, and cost-effective solutions. On the export side, our fast delivery times play such a significant role in boosting the export of Peruvian fruits to China that Peruvian companies are increasingly confident and eager to expand exports to the Chinese market," said Luo Peijie, general manager of COSCO Shipping Lines (Peru) S.A.
Arturo Medina, general manager of ProHass, a non-profit association dedicated to promoting the development of Peruvian avocado cultivation and export, see the potential of the Chancay Port in boosting the development of various industries in Peru and Latin America at large.
"The benefits are not limited to Peru. Clearly, the port is in our country, but other countries like Ecuador and Chile are also going to benefit from it. We enjoy a bigger edge, which is time, time that is crucial for transporting fresh fruits. I believe this will help the development of various industries, not just agriculture, but all other sectors, including manufacturing. What we need to do is develop strategies and seize the opportunity that has opened up for us," said Medina.
According to data released on Feb 17 by the Peruvian National Superintendence of Customs and Tax Administration (SUNAT), the total value of imports and exports through the Chancay Port had exceeded 292 million U.S. dollars since its official opening in November 2024.
Promotional event for Peru's megaport focuses on role of new Asia-Latin America trade route
