Goods worth over $292 million has been processed by the Chancay Port in Peru, a major project under the China-proposed Belt and Road Initiative, during the port's first three months of operation, the state broadcaster CCTV reported on Tuesday, citing data from customs and tax authority.
Imports reached a value of $140 million including engineering machinery, corn, solar panels and automobiles, with exports amounting to over $139 million including blueberries, avocado, palm oil and grapes, per data released by local authorities on Monday. Peru’s primary export markets include China, Mexico and the US.
The port officially commenced operations on November 14 last year. It is the first smart and green port in South America.
The first phase of the project, when completed, will reduce the sea shipping time from Peru to China to 23 days, lowering logistics expenses by about 20 percent, according to China's Foreign Ministry.
The port is expected to generate $4.5 billion in yearly revenues for Peru and generate more than 8,000 direct employment opportunities.
The completion of Chancay Port will effectively solidify Peru’s position as a strategic gateway linking shipping routes across land and sea, and between Asia and Latin America, enhancing regional connectivity and economic expansion across Latin America and the Caribbean region, Foreign Ministry spokesperson Lin Jian said during a regular press conference in November.
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