Chinese President Xi Jinping and his Peruvian counterpart Dina Boluarte have inaugurated a huge port in the Peruvian city of Chancay, launching an infrastructure project expected to attract more than $3.5bn in investment and to create a direct trans-Pacific route from China to South America. CGTN’s Chen Tong explains how the new port will affect global trade.
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00:00Starting today, the transportation time of goods exported from South America to the Asian market will be shortened to between 25 and 35 days.
00:10That means people in Asia can taste fresher coffee, blueberries and avocados from Latin America.
00:17The port is expected to generate 4.5 billion U.S. dollars of annual economic benefit for Peru and create thousands of jobs for local people.
00:27Now with the new port of Chiang Kai, many opportunities are going to come.
00:33It's going to be easier for us to bring our products here to Chiang Kai and then to Chiang Hai.
00:39For example, Chinese NAVs can be shipped to Peru.
00:43In fact, there are NAVs in some of these containers here at the port.
00:47The port and new shipping lanes are helpful for the export of Chinese electric vehicles, lithium batteries and photovoltaic products.
00:55China's financial hub Shanghai, which has the world's largest port, is expected to welcome more goods from Latin America.
01:03And from Shanghai, these products will be shipped throughout Asia.
01:07Cargo shipped from Peru to China can make a stop in Shanghai and then go to places like Japan, South Korea and Southeast Asia.
01:16From Chiang Kai to Shanghai, this expression has become quite popular in Peru and has finally become a reality.
01:23The Chiang Kai port is not only an infrastructure and commercial partnership between China and Peru.
01:29It brings the two sides of the Pacific Ocean closer.
01:33Chen Tong, CGTA in Chiang Kai.