China vows ‘firm support’ for Peru as foreign minister Javier Gonzalez-Olaechea Franco visits Beijing
He also said China and Peru oppose “unilaterality, bullying, polarisation and confrontation among major powers” while supporting “peace and democracy in the international community”.
The statement added: “China and Peru agreed to promote the in-depth development of cooperation between China and Latin American and Caribbean countries.”
In response, Gonzalez-Olaechea said Lima also promotes an “equal and orderly” multipolar world.
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Gateway to Asia: China builds port in Peru for faster transport of goods to and from South America
Work on the US$3 billion port, which is being built under the Belt and Road Initiative, a transcontinental infrastructure project, started in 2011.
The port in Chancay, which is around 70km (43 miles) north of Lima has been described as a new gateway to Asia and is on track to open four of its 11 berths by the end of the year, offering a faster Pacific Ocean route to China.
However, the Peruvian government is currently embroiled in a dispute with Cosco Shipping, the state-owned Chinese firm that is building the port and is expected to invest US$1.3 billion in the first stage of construction.
US, China must engage more with developing Apec economies, Peru trade chief says
The government has said it wants to avoid going to an international tribunal and earlier this month Cosco offered Peru the chance to go through a six-month negotiation process to resolve the dispute amicably.
Besides the mega port, China has also funded a variety of infrastructure and mining projects in the country.
Chinese firms account for all of Peru’s iron production and more than a fifth of its copper production in 2021, according to China’s Ministry of Commerce.
While China has been Peru’s top trading partner since 2014, its focus has traditionally been on buying commodities, including minerals, flour and fish.
Conversely, the US has historically shown a preference for engaging with Peru’s manufacturing sector, which plays a greater role in job creation and technological advancement.
However, in recent years, Beijing has been more active in fields such as ports and energy. In 2022, the main exports from China to Peru were electromechanics, hi-tech products, textiles and garments, according to the Chinese data.
Peru megaport to open new Pacific route to China. Will it be a win for all?
Five Peruvian cities, including the capital Lima, will host the Apec summit this year.