The controversy over the exclusivity of services around the Chancay megaport could lead Peru to international arbitration. The MEF hopes that the agreement will be reached sooner to avoid a debt that would be in the millions.
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Following Cosco Shipping’s notification of possible arbitration, José Arista, Minister of Economy and Finance, said: “We are going to reach an agreement sooner.” Along these lines, it is expected that China and Peru can close a negotiation within a period of six months, within the framework of the FTA, in order to resolve the controversy over the exclusivity of services before initiating international arbitration.
Arista highlighted the importance of the Chancay megaport as a pivotal axis of economic growth that will allow the development of our country and announced that a week ago a purchase of more than US$1.5 billion was made in a dry dock, which will help maintain the safety and efficiency of ships.
If the exclusivity controversy is not resolved, the investor would begin international arbitration against Peru in a court of independent arbitrators. Experts indicate that, although it is still too early to know the amount, this would not be a low one.
According to the president of ADEX, not getting involved in technicalities that prevent the development of large-scale projects like these or that lead us to have a million-dollar international debt would be ideal.
Journalist from the Peruvian University of Applied Sciences (UPC) with a major in Management and Leadership. She is editor of La República in the economics section for digital and print.
Source: Larepublica
Alia is a professional author and journalist, working at 247 news agency. She writes on various topics from economy news to general interest pieces, providing readers with relevant and informative content. With years of experience, she brings a unique perspective and in-depth analysis to her work.
