Chinese President Xi Jinping on Thursday inaugurated a new mega-port in Chancay during his visit to Peru, marking a significant step in Sino-Peruvian cooperation under the Belt and Road Initiative (BRI). He and Peruvian President Dina Boluarte issued a statement on deepening the comprehensive strategic partnership, expressing their readiness to jointly explore new opportunities for cooperation under the BRI that will lead to mutual benefits and sustainable development for both countries.
Xi Jinping said China is ready to work with Peru to build a new land-sea corridor linking China with Latin America, with the port of Chancay as the starting point. This corridor, which will link the Inca Trail with the 21st century maritime Silk Road, will open the way to shared prosperity and happiness for Peru and other Latin American and Caribbean countries.
Expanding opportunities
The Port of Chancay, which is the BRI's flagship project, will improve trade efficiency between Peru and Asia, reduce shipping time to China to 23 days and reduce logistics costs by at least 20 %. This deep-water port, located approximately 80 km north of the Peruvian capital Lima and directly connected to the Pan-American Highway that runs through the Americas, is set to become a key logistics hub between Latin America and Asia.
Xi Jinping said at the opening of the port that this port marks more than just the beginning of the BRI in Peru. "From Chancay to Shanghai, we are witnessing the birth of a new land-sea corridor between Asia and Latin America," he said.
The Port of Chancay is expected to bring Peru annual revenues of US$4.5 billion and create more than 8,000 direct jobs. Chinese enterprises have overcome a number of challenges and completed the first phase of the port project, which Xie said demonstrates China's commitment to long-term strategic cooperation with Peru.
Deepening partnerships
During his meeting with Boluarte, Xi Jinping called for further deepening practical cooperation and improving the China-Peru strategic partnership so that the two countries can better seize opportunities for mutual benefit.
Since the establishment of diplomatic relations between the two countries 53 years ago, there has been a significant increase in trade and investment cooperation. China is now Peru's largest trading partner, and cooperation in trade, mining and infrastructure has achieved significant results.
Xi Jinping encouraged further expansion of trade relations and challenges in traditional and new industries such as the digital economy, artificial intelligence, green shipping, electric vehicles and photovoltaics. At the same time, China offered to help Peru develop infrastructure and strengthen "hard" and "soft" connectivity.
Conclusion
During the inauguration of the port, President Boluarte said that this BRI project is a key step towards Peru's goal of becoming an international hub for shipping and trade. She affirmed that this project will help Peru establish itself as an important entry point linking Latin America with Asia, and will promote integration and prosperity throughout the region.
The two sides also issued a joint statement welcoming the signing of the protocol on the modernisation of the bilateral trade arrangement and expressing their willingness to cooperate on large-scale infrastructure projects in accordance with their respective national legislation.
English 
Czech