China, Peru sign MOU on transcontinental rail link

Chinese President Xi Jingping and his Peruvian counterpart Ollanta Humala signed a memorandum of understanding yesterday to create a trilateral working group to progress the construction of a South American transcontinental railway connecting the Pacific and Atlantic oceans through Peru and Brazil.

It was one of seven agreements reached between the two countries during Humala’s visit to China after attending Asia-Pacific Economic Cooperation (APEC) summit in Beijing, reports news agency, EFE.

The idea first came to light in July this year when Xi and Brazil’s Dilma Rousseff vowed last week to work together to build a high-speed railway across the entire South American continent to boost economic growth and regional development.

Humala and Xi also signed cooperation agreements in fields of hydrocarbons and mining.

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