Chinese President Xi Jinping has arrived in Peru for the APEC summit, ready to sign 30 bilateral agreements, including an updated free-trade deal. A key event of his visit is the virtual inauguration of the US$3.5 billion Chancay Port, funded by China. Xi aims to enhance cooperation between the two nations during this transformative period.

On Thursday morning, Xi Jinping, the President of China, arrived in Peru, accompanied by approximately 400 business leaders and entrepreneurs, in order to participate in the Asia-Pacific Economic Cooperation (APEC) summit, which will run until Saturday. A significant highlight of his visit is the virtual inauguration of the newly constructed Chancay Port, a project funded and operated by China, worth US$3.5 billion. During this visit, China and Peru are expected to finalize around 30 bilateral agreements, including an updated free-trade agreement. In an article published in the Peruvian media outlet El Peruano, Xi emphasized the importance of strengthening the traditional friendship between the two nations to enhance cooperation in alignment with contemporary global requirements. From Lima, President Xi is scheduled to travel to Brazil to participate in the G20 meeting and engage in a state visit with Brazilian President Luiz Inacio Lula da Silva on November 20.

The Asia-Pacific Economic Cooperation (APEC) summit serves as a crucial platform for countries to foster economic cooperation and promote trade benefits in the region. Xi Jinping’s visit to Peru highlights China’s growing influence and investment in Latin America, particularly through infrastructure projects like the Chancay Port. These developments signify China’s commitment to deepening bilateral ties with regional partners, reflecting a strategic approach to enhance economic collaboration in a rapidly changing global climate. The multiple agreements set to be signed during this visit underscore the importance of such diplomatic relations.

In conclusion, President Xi Jinping’s arrival in Peru marks a significant moment for China-Peru relations as they aim to solidify cooperative efforts through substantial bilateral agreements. The inauguration of Chancay Port illustrates China’s ongoing investment in regional infrastructure, while the forthcoming G20 meeting in Brazil further emphasizes China’s active role in international economic dialogues.

Original Source: www.scmp.com

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