On Nov 7, the Chancay Port, an important joint construction project carried out by China and Peru under the Belt and Road Initiative, welcomed its first cargo ship, which began its voyage from Taicang Port in Suzhou, East China's Jiangsu province.

An aerial view of Taicang Port. [Photo/VCG]

China has been Peru's largest trading partner and export market for 10 consecutive years. The inauguration of Chancay Port has reduced the one-way maritime shipping duration between China and Peru to 23 days, yielding a cost reduction of over 20 percent in logistics. This development is expected to further enhance trade collaboration between the two nations.

Taicang Port has actively supported the construction of Chancay Port. In September and October of this year, Taicang Port shipped over 160 sets of port-related equipment via a customized direct shipping route to Chancay Port, laying a solid foundation for its timely opening.

Taicang Port also plays a significant role in trade with Peru. From January to October this year, the export value of goods from Taicang Port to Peru reached 380 million yuan ($52.46 million), a 2.5-fold increase year-on-year. The primary exported goods included automobiles, pickup trucks, port equipment, and excavators.