May 6th, a new sea route was opened in Tianjin, connecting China to the east coast of South America. The aim is to boost trade between China and countries in the region while enhancing transportation capacity. Crossing the Pacific Ocean, the sea route between China and South America is one of the longest globally. Experts suggest that this new route will facilitate commercial and trade cooperation between China and South America.
This marks the first sea route opened from the Beijing-Tianjin-Hebei region in recent years. Operating once a week, the route will be serviced by 12 vessels each capable of carrying 14,000 standard containers. These vessels, operated by COSCO Shipping, will link Tianjin Port to various South American ports including Rio de Janeiro, São Paulo, Itajaí, and Navegantes in Brazil.
According to information obtained by EqualOcean, this route will reduce the transportation time between Tianjin and Brazil from 54 days to 40 days and increase the loading capacity of cold chain containers. The ships will transport soybeans, iron ore, coffee beans, cocoa, sugar, and beef to China, while exporting daily necessities, chemicals, vehicles and parts, steel, and furniture to South America.
Earlier, Dalian Port in Liaoning Province opened its first route to South America, reducing transportation time between Dalian and Mexico, Colombia, and Ecuador from 32 days to 25 days.
In recent years, China-Latin America trade cooperation has shown vigorous development, with an increasing number of high-quality Latin American products entering the Chinese market. Chinese industrial products are also well-received in Latin America, with brands like Xiaomi and Huawei smartphones consistently ranking high in sales charts. The China-Ecuador Free Trade Agreement officially took effect on May 1st, signaling further expansion of China's presence in Latin American free trade. Currently, China has signed free trade agreements with five Latin American countries including Chile, Peru, Costa Rica, Ecuador, and Nicaragua.
According to data from the General Administration of Customs, China has been Brazil's largest trading partner for 15 consecutive years. Brazil is also China's largest trading partner and direct investment destination in Latin America. In the first quarter of 2024, bilateral trade reached USD 45.34 billion, a year-on-year increase of 24.3%.