Your current location:HOME >politics >China launches new sea routes to South America as trade booms 正文
TIME:2024-05-21 11:32:03 Source: Internet compilationEdit:politics
A new sea shipment route connecting Dalian port in Northeast China's Liaoning Province and South Ame
A new sea shipment route connecting Dalian port in Northeast China's Liaoning Province and South America started operation on Tuesday, marking the opening of the first South American container ocean trunk line by the port, according to China Media Group.
The launch shows there's an active trade market between China and South American countries as well as strong growth momentum, Zhou Zhiwei, an expert on Latin American studies at the Chinese Academy of Social Sciences, told the Global Times on Thursday.
The route serves multiple countries in a much wider region including Mexico, Colombia and Ecuador, with the total journey taking around 25 days. That's up to seven days faster than previous routes.
The route will enhance the connectivity between China's northeastern region and Latin American countries, and promote imports of cold-chain products including fruits and aquatic products by China, which is their key trading partner.
Tianjin Port in North China's Tianjin Municipality launched a direct route to South America on December 21, 2023, according to China News Service. Ten ships carrying 3,500 to 4,500 containers each will serve the route, transporting regional products such as shrimp, beef, tropical fruits, wine and grain from South America and China-made products ranging from glass and steel to bicycles and automobiles.
The expanding sea routes reflect strong trade flows between China and the region. In 2022, China-Latin America trade approached the $500 billion mark, maintaining a rapid growth for six consecutive years.
"China and Latin American countries have high economic complementarity, which generates ample room for foreign trade growth on both sides," said Zhou, noting that free trade agreements (FTAs) will accelerate the process.
An FTA between China and Nicaragua took effect on January 1, and about 60 percent of goods in bilateral trade were exempted from tariffs. Tariffs on more than 95 percent of goods will gradually be eliminated, the Ministry of Commerce said on December 30, the Xinhua News Agency reported.
Honduras, which established diplomatic relations with China on March 26, 2023 and launched negotiations toward a FTA, sees opportunities and development options within the Belt and Road Initiative (BRI) framework, the Xinhua News Agency reported.
"The number of sea routes between China and South America will increase as economic ties get closer. China has assisted and invested in infrastructure projects under the BRI in the region, and cooperation will facilitate cargo-handling capacity and benefit people on both sides," said Zhou.
What's next for Iran after death of its president in crash?2024-05-21 11:27
Fiorentina fights back to draw with Genoa as both suffer from VAR decisions2024-05-21 11:12
TOWIE's Amber Turner breaks down in tears as ex2024-05-21 10:48
Lanzhou New Area witnesses progress in industrial growth2024-05-21 10:32
Analysis: Larson enters conversation with Verstappen as best drivers in the world2024-05-21 10:17
Union settles extended strike with Pittsburgh newspaper, while journalists, other unions remain out2024-05-21 09:52
EU agrees to open accession talks with Bosnia and Herzegovina2024-05-21 09:47
Harmonious echoes: China2024-05-21 09:26
Lynn Williams breaks NWSL goal2024-05-21 09:25
Man falls to death at oceanfront hotel trying to escape sixth2024-05-21 09:05
The Latest2024-05-21 11:26
Innovative greening manifests China's environmental preservation drive2024-05-21 11:24
TOWIE's Kirk Norcross introduces glamorous new girlfriend Ashton2024-05-21 10:50
22nd China Cultural Tourism Global Forum held in Shenzhen2024-05-21 10:41
Travis Kelce downs whiskey shot on slice of bread at Kelce Jam without Taylor Swift2024-05-21 10:21
Cultural tourism effort in Dongtou bears fruit2024-05-21 10:08
Missing Kansas women confirmed dead, kids safe, 4 charged with kidnapping and murder2024-05-21 09:23
Testimony in USC case before labor relations board administrative judge could be wrapping up2024-05-21 09:20
Target to lower prices on basic goods in response to inflation2024-05-21 09:13
Biden hosts Czech leader at White House to promote Ukraine aid amid holdup in Congress2024-05-21 08:59