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China to Support Peru on New South American Railroad Construction

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Peru Railroad

Peruvian President Ollanta Humala wrapped his visit to China on Wednesday after securing Beijing’s support to build a railroad that will connect the Atlantic and Pacific oceans passing through Peru and Brazil.

Following his participation in the Asia-Pacific Economic Cooperation (APEC) summit on Monday and Tuesday, Humala met with Chinese President Xi Jinping and local businessmen who were encouraged by the Peruvian head of state to do business in Peru, citing the country’s stability and favorable investment climate.

Humala was greeted with military honors on his arrival at the Great Hall of the People in Beijing. He then held a bilateral meeting with President Xi. During the meeting, Xi said that China will actively participate in construction of the railway, according to the Chinese state news agency Xinhua.

After the meeting, the two leaders presided over the signing of seven bilateral agreements, one of which was a memorandum of understanding for the creation of a business group that will proceed to establish the so-called "Twin Ocean Railroad Connection" between Peru and Brazil.

The agreement was signed by the Ministry of Transport and Communications of Peru, the National Development and Reform Commission of China, and the Brazilian Ministry of Transport.

The two presidents also signed an economic cooperation agreement after which China will grant Peru $11.5 million. The two sides signed other agreements in relation to hydrocarbons and mining, in addition to the export to Peru of Chinese-made wheelchairs.

The Chinese president also pledged that his government will play a constructive role in the United Nations Framework Convention on Climate Change to be held in Lima next December.

Xi called on Humala to cooperate with China in the preparation of the first ministerial meeting between China and the Community of Latin American and Caribbean States (CELAC) to be held in Beijing next year.

Humala told Xi that his country welcomes Chinese companies that wish to participate in the construction of infrastructure in Peru as well as mining, gas exploration and electricity generation.

Later, Humala took this message in person to a group of Chinese businessmen attending a Peruvian food festival held at a hotel in Beijing, urging them to invest in his country.

The Peruvian president also called for collaboration between the public and private sectors in order to have them complement each other and tackle each other’s shortcomings.

Humala added that they are working in Peru to find the balance that guarantees a friendly climate for investments. Peru ranks second in terms of having the best climate in Latin America for investments, according to the World Bank’s last report.

After concluding his visit to China, Humala left to the Vatican City to meet Pope Francis in what will be the last stop on his international tour.

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