Local time on May 26, the Peruvian Ministry of Economy issued a statement saying that the country would hold high-level talks with China and Brazil, aiming to accelerate the implementation of the strategically significant "Two-Ocean Railway" project.
According to Reuters, Peru's Minister of Economy Raul Perez Reyes recently held working talks with the Chinese ambassador to Peru. The Chinese ambassador said that direct dialogue between leaders of the three countries would provide an important opportunity to build a regional railway corridor cooperation framework.
This much-anticipated railway project plans to construct a major railway artery across South America, connecting important industrial areas in Brazil with newly-built deep-water ports along the Pacific coast of Peru. After completion of the project, it will open a fast channel for trade between China and South America, significantly reducing logistics costs. At that time, cargo transportation will not need to rely on the Panama Canal or detour around the southernmost tip of South America, expected to shorten transportation time by about 20 days, greatly enhancing the efficiency of regional economic and trade exchanges.
Port of Chancay, Peru - Reuters
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