Peruvian port helps spur trade with China

Containers are loaded onto a truck at Chancay Port, Peru. Situated about 60 kilometers north of Peru's capital Lima, the deepwater port is co-invested by China's COSCO Shipping and Peru's Volcan Compania Minera SAA — a collaborative project between China and Peru under the BRI. The newly opened Chancay Port is poised to deliver significant economic and social benefits to Peru as well, beyond its transformative effects on the country's international trade and logistics capabilities. Chancay Port is expected to have significant effects not just on the Peruvian economy, but on trade flows across Latin America, said Liang Haiming, dean of the Belt and Road Research Institute at Hainan University. China's efforts to deepen economic and infrastructure ties with Latin America through the BRI reflect a long-term vision to foster shared prosperity across the Global South, Liang said.