Peruvians wish upcoming APEC meeting to boost economic recovery

As Peru is preparing to host this year's APEC meeting in its capital Lima, many Peruvians are expecting the meeting to boost the country's economic recovery.

The APEC Peru 2024 will be the annual meeting of the leaders of the Asia-Pacific Economic Cooperation Forum, scheduled from Nov 10 to 16. It will be the third time for Peru to host the meeting after 2008 and 2016.

The meeting comes at a time of slow economic recovery and low employment in the South American country.

"APEC itself is very important. Sixty percent of the world economy generated by the 21 economies [of the group], and 50 percent of the world trade generated by those economies. And in that group is the biggest economy in the world, the United States, the second biggest, China, and the 4th or 5th, Japan. So first, because of that summit that's going to be held in the middle of November, the world attention will be in Peru," said Carlos Aquino Aquino Rodriguez, director of the Center for Asian Studies at the National University of San Marcos in Lima.

President Xi Jinping, among other leaders of the APEC economies, will attend the APEC Economic Leaders' Meeting in Lima and pay a state visit to Peru from Nov 13 to 17, at the invitation of Peruvian President Dina Ercilia Boluarte Zegarra.

Coinciding with the meeting, the multi-purpose port in Chancay, about 70 kilometers north of Lima, is set to launch operations this month with a direct shipping route to Shanghai, aiming to become a key hub for trade between South America and Asia.

Part of the China-proposed Belt and Road Initiative, the facility is the first in the region to have the capacity to berth some of the world's biggest cargo ships.

By greatly slashing transportation time, the new port will cut costs and make Peruvian products - from textiles and minerals to fruits and vegetables - more competitive.

"We have been very close to the U.S. for several decades. And now in these last years, of course, China has been very active in terms of participating in our trade flows and investment. The way we see it is that these two big guys set up their own policies, and we have to see and check and see what is best for Peru," said Monica Com, a partner at Macro Invest in Peru.

The progress of the port reflects the deepening economic and trade relationship between China and Peru.

At present, China is Peru's largest trade partner, largest export market, and largest source of imported goods, while Peru is China's fourth largest trade partner in Latin America. In 2023, their bilateral trade volume reached 37.691 billion U.S. dollars, representing a year-on-year growth of 0.8 percent, according to official data.

More and more youngsters in Peru are studying Chinese in order to take full advantage of the opportunities arising from the bilateral cooperation.

With so many nations situated around the Pacific, Peru wants to open its doors to the rest APEC members as it welcomes new economic possibilities.

Peruvians wish upcoming APEC meeting to boost economic recovery

The Iranian government is focusing on public concerns and maintaining stable supplies of essential goods amid recent protests, Iranian President Masoud Pezeshkian said in a televised interview on Sunday.

In the city of Karaj, northwest of the capital Tehran, daily life has largely continued as normal. A video filmed by a local resident on Sunday shows food stores open and grocery shelves fully stocked.

"This is the block near my home, and there are some food stores here. Daily life continues here. Last night we did not see many protests in Karaj. Right now the city is very safe. This is a grocery store close to my home. All the food is available; nothing is in shortage. Here are noodles and different types of beans. Here are dairy products, cheese, and yogurt. I also checked other grocery stores and didn't see any shortages. Everything is available," said local resident Ali Reza.

Iranian officials have described recent disturbances as acts orchestrated by the "enemy," including some carried out by well-trained and armed "terrorists." The incidents have caused casualties among security personnel and civilians, as well as property damage.

The Secretary of Iran's Supreme National Security Council Ali Larijani has directed authorities to severely punish the "terrorists."

Meanwhile, Iran's police chief Ahmad-Reza Radan said on Sunday that the police had raised alert levels and arrested several leaders of the troublemakers during the operations on Saturday.

President Pezeshkian noted in the interview that the normal demands of the Iranian people are reasonable and justified, but they must realize that triggering riots and carrying out terrorist acts are the enemy's attempts to undermine the country. He urged the public to remain vigilant.

Also on Sunday, Iranian Parliament Speaker Mohammad Baqer Qalibaf warned that Tehran would regard U.S. and Israeli bases and facilities in the Middle East as "legitimate targets" if Washington takes military action against Iran. His remarks followed media reports saying U.S. President Donald Trump is "seriously considering authorizing a strike" against Iran.

Iranian state media reported that at least 109 members of Iran's security forces have been killed in clashes since the protests began 14 days ago. Meanwhile, human rights groups based outside the country said the number of protesters killed has exceeded 200, though the figure could not be independently verified.

The protests initially erupted over a sharp depreciation of the rial and sweeping subsidy reforms. Iranian authorities have blamed the unrest on foreign-linked agents and sanctions imposed by the United States.

Iranian president says government focusing on ensuring supplies amid protests