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CHINA PRESS: New Chinese Peruvian Port Cuts Shipping By Ten Days

CHINA PRESS
EM BulletAPACChinaEmerging Market NewsBulletGlobalFixed Income BulletsForeign Exchange BulletsRegionMarkets

A new Chinese built port in Peru will reduce shipping times between Asia and South America to 25 days from 35 days and cut 20% off logistics costs, Yicai news outlet reported. The construction of deep water facilities at the Chancay Port allows goods to by-pass Mexico and Panama, greatly improving efficiency, the news outlet noted. Niu Haibin, director at the Institute of Foreign Policy of the Shanghai Institute for International Studies highlighted Peru was a member of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) and the new port would enhance economic integration in South America.

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A new Chinese built port in Peru will reduce shipping times between Asia and South America to 25 days from 35 days and cut 20% off logistics costs, Yicai news outlet reported. The construction of deep water facilities at the Chancay Port allows goods to by-pass Mexico and Panama, greatly improving efficiency, the news outlet noted. Niu Haibin, director at the Institute of Foreign Policy of the Shanghai Institute for International Studies highlighted Peru was a member of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) and the new port would enhance economic integration in South America.