Illustration: Liu Xidan/GT

President Xi Jinping and Peruvian President Dina Boluarte attended the inauguration ceremony of Chancay Port by video link at the Presidential Palace in Lima on the evening of November 14, local time. The inauguration of the port is not only a milestone in the economic and trade cooperation between China and Peru, but also demonstrates the firm determination of both sides to deepen friendly relations.

The Chancay Port will significantly promote trade exchanges and economic cooperation among Latin American countries, strengthen connectivity between Latin America and Asia, and profoundly change the traditional logistics landscape of inland South America and international logistics. 

More importantly, as an important hub in the Latin American region, Chancay Port is a solid infrastructure for regional economic and trade cooperation, and increasingly close economic and trade exchanges will further accelerate the integration process of the Latin American economy.

As a landmark project of the Belt and Road Initiative in the Latin American region, the Chancay Port offers a new solution for regional cooperation, which will effectively promote in-depth collaboration between China and Latin American countries. On one hand, the port serves as a maritime bridge connecting Asia and Latin America, enhancing the competitiveness of goods from both sides in the global market and opening up new growth opportunities for enterprises from both regions. On the other hand, the completion and efficient operation of Chancay Port provide a good example and Chinese experience for port construction in Latin America and even globally.

Relying on the solid foundation of cooperation between China and Peru, the Chancay Port has effectively promoted in-depth cooperation between the two countries in the humanities and political fields while enhancing trade exchanges. This project not only injects new vitality into the building of a community with a shared future between China and Latin America and the Caribbean, but also provides Chinese wisdom to the diversified and inclusive growth of the global economy.

In addition to fostering mutual benefit and win-win cooperation between China and Peru, the Chancay Port exemplifies China's promotion of a new type of international cooperation. At a time when global development faces new opportunities and challenges, China has demonstrated its commitment as a responsible major country.
Against the backdrop of rising risks of global economic uncertainty, the successful opening of the Chancay Port provides new impetus and ideas for global economic cooperation. 

In the foreseeable future, with the resurgence of isolationism and protectionism, the process of global economic integration may encounter obstacles. As an advocate and promoter of an open economy, China plays a significant role as a driver of globalization. 

In this context, the Chancay Port project demonstrates China's firm determination to share development opportunities with the world, offers new solutions to common challenges facing humanity, and outlines a new blueprint for shaping a new international development pattern.

In addition, the Chancay Port not only contributes to the development of Peru and other Latin American countries but also plays a positive role in promoting international cooperation represented by the Belt and Road Initiative. 

Looking ahead, China will continue to promote a new type of international cooperation, further deepen economic cooperation and partnerships with countries around the world, provide solid support for the stability and development of the global economy, and help create a more just and reasonable international economic governance system.

The author is a scholar with the School of Marxism Studies, Shanghai International Studies University. opinion@globaltimes.com.cn