Off the wire
• Commentary: Manila should stop provocations on South China Sea  • China Hushen 300 index futures open mixed Tuesday  • China treasury bond futures open mixed Tuesday  • Stocks open flat amid concerns  • Xinhua China news advisory -- June 2  • Roundup: MERS fears peak in S. Korea on first two deaths, tertiary infection  • Market exchange rates in China -- June 2  • China stocks open higher Tuesday  • Tokyo shares open higher on yen's further falling  • Chinese yuan weakens to 6.1225 against USD Tuesday  
You are here: 　 Home

Transcontinental railway to help expand trade between Peru, Brazil

Xinhua, June 2, 2015 Adjust font size:

Trade between Peru and Brazil will expand by 10 billion U.S. dollars with the construction of a proposed transcontinental railway linking them, Brazilian Ambassador Carlos Alfredo Lazary in Lima said Monday.

When the railway is up and running with the financial help of China, it will contribute to consolidating integration and trade between the two nations, the ambassador said.

Trade between Peru and Brazil currently stands at around 3.6 billion dollars. About 50 Brazilian companies are operating in Peru, generating 40,000 direct jobs, he said.

He added that the undertaking of this ambitious mega-project will turn Peru and Brazil into competitive logistical centers, which will facilitate the transportation of non-traditional, value-added products.

The transcontinental railway would become the third integration axis between the two countries after the current Interoceanic Highway which joins Lima with the southern Peruvian ports of Ilo and Matarani, he said.

Due to the complexity of the construction project, the feasibility report for the transcontinental railway will be ready in a year. Endi