China and Colombia announce 'alternative Panama Canal'

China and Colombia announce 'alternative Panama Canal'

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Colombia has announced it is negotiating with China to build an alternative to the Panama Canal.

The proposed transport route is intended to promote the flow of goods between Asia and Latin America.

The plan is to create a "dry canal" where the Pacific port of Buenaventura would be linked by rail, across Colombia, to the Atlantic Coast.

Trade between Colombia and China has increased from $10m in 1980 to more than $5bn last year.

The announcement came from the Colombian president, Juan Manuel Santos, who told the Financial Times that the project was "a real proposal... and it is quite advanced".

China has been increasing its involvement across Latin America to feed a growing need for raw materials and commodities.

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