by Ángel Armando Sánchez Dueñas
President of Federación de Periodistas del Perú, Perú
Chongqing: The Industrial Heart of China
Chongqing, a metropolis in southwest China, has emerged as a leading industrial and logistics hub. Its strategic location at the confluence of the Yangtze and Jialing rivers makes it a key node in the Belt and Road Initiative. This ancient city, with a rich history dating back more than 3,000 years, has undergone a radical transformation in recent decades, becoming an engine of economic growth for China.
As a manufacturing hub, Chongqing produces a wide range of products, from combustion cars, electric cars and electronic equipment to chemicals and textiles. The city has invested heavily in infrastructure, improving its rail links, roads and river ports. This has enabled Chongqing to become a major distribution centre for Chinese exports to Europe, Africa and the Middle East.
The Mega Port of Chancay: A New Gateway to the Pacific
While Chongqing is consolidating itself as a production center in the interior of China, the Chancay Mega Port, under construction in Perú, is emerging as a new gateway to the Pacific. This mega port, financed and built mainly by Chinese companies, is designed to become a world-class logistics hub, facilitating trade between China and Latin America.
With an investment of billions of dollars, the Chancay Mega Port will be one of the largest and most modern in Latin America. Its facilities will allow the efficient handling of large volumes of cargo, both in containers and in bulk. The inauguration of the port, scheduled for November of this year, and the expected visit of Chinese President Xi Jinping, will mark a milestone in trade relations between both countries.
The Impact on Trade between China and Perú
The combination of Chongqing and Chancay promises to revolutionize trade between China and Perú, as well as between China and the rest of Latin America. Some of the key implications of this new strategic axis include:
Cost reduction: By shortening maritime routes and improving logistics efficiency, the Chancay Mega Port will reduce the costs of transporting goods between Asia and Latin America.
Increased bilateral trade: Significant growth in bilateral trade between China and Perú is expected, with increased exchange of manufactured goods, raw materials and agricultural products.
Diversification of Peruvian exports: The Chancay Mega Port will facilitate the export of Peruvian products to new markets in Asia, Africa and the Middle East.
Attracting investments: The construction of the port and the improvement of the surrounding infrastructure will attract new investments to Perú, generating employment and economic development.
Challenges and Opportunities
While the Chancay Mega Port project offers numerous opportunities, it also poses some challenges. These include:
Environmental impact: It is essential to ensure that the construction and operation of the port are carried out in a sustainable manner, minimising the environmental impact.
Regional competition: The Chancay Mega Port will have to compete with other ports in the region, such as Callao in Perú and Balboa in Panama.
Development of the logistics chain: To take full advantage of the port’s potential, it will be necessary to develop an efficient logistics chain that connects the port with the interior of the country and with other regional markets.
Ending
The combination of Chongqing and Chancay represents a new era in trade relations between China and Latin America. This strategic axis has the potential to transform the economies of both countries, creating new opportunities for growth and development. However, to make the most of this potential, it is necessary to address the challenges and work together to build a more prosperous and sustainable future.
The Chancay Megaport, a project executed by China and Perú, represents for our nation a great expectation of economic and commercial growth, hand in hand with the Asian giant. Peruvians hope that this megaport will be included in the Belt and Road Initiative, promoted by President Xi Jinping, positioning Chancay as a gateway to all of Latin America and the world.
*The views and opinions expressed in the articles are solely those of the individual authors and do not reflect the position of the Secretariat of the Belt and Road Journalist Network.