Peru’s Port of Chancay commits to reduce lead times to Asia by 12 days

Peru’s Minister of Foreign Trade and Tourism, Juan Carlos Mathews, has announced that the highly-expected multipurpose port terminal in Chancay will reduce lead time to the Asian market by 8 to 12 days, significantly enhancing the competitiveness of our foreign trade operations.

“This new infrastructure is not just a spectacular asset for Peruvian companies but also for those in Chile, Colombia, Brazil, and other regional countries conducting business in Asia,” he stated.

Mathews elaborated that for Peruvian, Chilean, and Colombian business owners, the Chancay Port will translate to 8 to 12 fewer travel days to China, leading to substantial logistic savings.

“For Brazilian entrepreneurs, it will mean a 20-day reduction in travel time to the Asian market,” noted the Minister of Foreign Trade and Tourism (Mincetur).

He also stressed that the first phase of the Chancay Port, promoting a direct route to the Asian market, will be ready by November next year.

“Due to our strategic location, there’s a legitimate aspiration to become a port and airport hub. We are making every effort to achieve this goal,” Mathews highlighted.

In this context, he mentioned that APM Terminals is investing over 500 million dollars in the North Pier of the Callao Port, responsible for 80% of exports. The DP World is also engaged in further investments in the South Pier.

Trade Agreements

Peru currently has 22 active trade agreements and is negotiating for three more.

“This places us among the top three most open economies in Latin America, alongside Mexico and Chile,” he emphasized.

Mathews added that this open trade policy allows Peru to negotiate with 58 countries, representing 81% of the world’s GDP, under favorable conditions.

Consequently, he explained that over 90% of Peru’s international trade transactions are conducted with countries having trade agreements with Peru.

Source: Andina – Agencia Peruana de Noticias 

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