Chinese president Xi Jinping to join world leaders at the APEC Summit in Peru

CGTN Europe

One of the biggest business gatherings is underway in Peru.  China’s president Xi Jinping is due to attend APEC and make a state visit to the country.  China is one of Peru’s main trading partners and has several constructions project in the country  #apec

Transcript

00:00Hi Jamie, well China is placing tremendous emphasis on this particular APEC leaders meeting,

00:08the 31st since its inception, and as you mentioned, President Xi Jinping will be visiting and

00:16he's expected to arrive on Thursday. First he'll be speaking at the CEO Summit, which

00:20is right behind me, addressing 1,300 business leaders from around the Pacific Rim. Then

00:26he'll be participating in the inauguration of the Chang'e Megaport, a Chinese-built port

00:32about 80 kilometers north of Lima. He'll be doing that in the government palace, accompanied

00:37by his counterpart, Dina Bolowati, the Peruvian president, where they'll be watching the inauguration

00:42via video link. Now this port is seen as being tremendously important, not just for China

00:48but also for Peru. The big game-changer of this port from other ports in the region is

00:53that it's a deep-water port, which means it'll be able to berth larger container ships

00:58carrying up to 22,000 containers, and also it's expected to slash transit times or freight

01:04times across the Pacific Ocean, meaning that cargoes can reach Asia much faster, which

01:10of course will reduce costs and is good for importers and exporters. The idea for this

01:15port is that it will be a trade hub for South America, so countries neighboring Peru will

01:21be able to use cavities to transport their shipments from this port, and also Atlantic-facing

01:28countries like Brazil, which exports particularly beef and soy to China, will be able to transport

01:36those products through road systems and eventually in the future rail systems across the continents

01:44of Latin America and out through Chiang Kai on Peru's Pacific coast and across the Pacific

01:49Ocean. So it's seen as being tremendously important to increase prosperity for South

01:55America and also for Asia, and in fact the foreign minister here in Peru has said that

02:01it will take trade to another level in Peru and should increase bilateral trade between

02:05China and Peru by 50%.

02:07Dan, what else can we expect from this year's APEC gathering?

02:11Well, APEC, which began in 1989, has always been a forum for countries, 21 nations of

02:21the Asia-Pacific region. They represent more than 60% of global GDP, around half of global

02:27trade, and 3 billion people, approximately 38% of the global population. The idea is

02:33that to increase strategic economic partnerships between the nations for the general prosperity

02:39and also sustainable development of all nations, which include North America, United States

02:46and Canada, China, South Korea, and nations also in South America. The idea at the time,

02:54as we've been hearing, on the programme of climate change and conflict in the world,

03:00this particular forum hopes to be an oasis of peace and economic promotion.

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