Chancay-Shanghai shipping route boosts trade growth between Latin America, Asia

The newly inaugurated Chancay-Shanghai direct shipping route not only strengthens trade ties between Peru and China but also promotes shared growth across Latin America, Asia and beyond. On Wednesday, the air at Shanghai Port was infused with the sweet fragrance of fresh fruit as a vessel from Peru’s Chancay Port docked, delivering a bounty of Peruvian agricultural delights, including grapes, avocados and blueberries. Since the launch of the Chancay Port in November, shipments between the two coastal cities have highlighted a promising future for trade across the Pacific. The direct route is expected to reduce shipping costs by at least 20 per cent, generate US$4.5 billion in yearly revenues for Peru, and create 8,000 direct jobs. The operation of the port, a flagship Belt and Road cooperation project be tween China and Peru, demonstrates the two nation’s commitment to free trade amid rising trade protectionism. Before Chancay Port’s opening, Peru’s exports to China had to pass through other regions. The new port, able to handle large container ships, cuts shipping times to 23 days. — Xinhua

Source: GNLM