Current Affairs - International - Discussion

The Chancay megaport inauguration ceremony was attended by the presidents of China and Peru, marking a significant milestone in the bilateral relations between the two nations. China's significant investment in the project, through its majority-owned company Cosco, underscores its growing economic influence in Latin America. The mega port is expected to boost trade and economic cooperation between China and Peru, with investments projected to exceed $3.5 billion over the next decade. China's president, Xi Jinping, played a key role in unveiling this strategic project.