Suzhou Port and Chancay Port sign sister port agreement in Lima on March 3. (Photo courtesy of Jiangsu Provincial Foreign Affairs Office)
Suzhou Port in China's Jiangsu Province and Chancay Port in Peru signed a sister port agreement on the morning of March 3 at the Chinese Embassy in Lima, taking on goals for trade exchanges and win-win cooperation between Jiangsu and Peru in the areas such as port construction and green development.
This agreement was built on the sister city relationship established between Suzhou and Chancay last November. On November 14, 2024, Chinese President Xi Jinping and his Peruvian counterpart, Dina Boluarte, attended the opening ceremony of the Chancay Port via video link.
"The two ports will boost exchanges and cooperation in shipping resources, port development and talent, thus creating a cost-effective, efficient, and low-carbon maritime logistics corridor,” said Li Haifeng, Deputy Director of the Suzhou Port Management Committee Office.
Photo taken on January 7, 2025 shows a cargo ship bound for Chancay Port at the terminal of Zhangjiagang Port in Suzhou, Jiangsu province, (Photo/CFP)
Chancay Port is not only an important project in the framework of Belt and Road cooperation, but also the first smart and green port in South America, according to a foreign ministry spokesperson.
The first phase of the project can reduce the sea shipping time from Peru to China to 23 days, thus cutting logistics costs by at least 20 percent. Notably, the first vessel docking at Chancay Port was from Suzhou's Taicang Port.
Mario Delas Casas, Manager of Public Relations Department of Chancay Port, said the cooperation between the two ports will greatly benefit the importers and exporters in Peru and South America. The increase of cargo shipments between Jiangsu and Peru is fully expected, he added.
Data shows that in 2024, the exports value from Suzhou Port to Peru exceeded 500 million yuan (about $69.4 million), a year-on-year increase of 250%. Under the dual opportunities of global industrial chain restructuring, and deepening economic and trade cooperation between China and Latin America, Jiangsu's direct investment in the Latin American region reached 2.749 billion US dollars in 2024, accounting for 23% of its total outbound direct investment, second only to its investment in other Asian countries and regions, according to the Jiangsu Provincial Department of Commerce.
In addition, sister cities exchanges remain active between Jiangsu and Latin America. Currently, Jiangsu has 23 sister cities in the region, including 3 at provincial level and 20 at city or county level, accounting for approximately 10% of the total number of sister cities between China and Latin America.
It's believed that the agreement will further enhance the economic and trade cooperation between Jiangsu and Peru, and will inject new momentum into the global supply chain.
