The president of Peru met with BYD, a Chinese manufacturer of electric vehicles on Wednesday. He invited executives to establish themselves on the Andean nation’s Pacific Coast where another Chinese company is building a massive harbor to facilitate trade between both countries.

According to a statement from the government, President Dina Boluarte informed the executives that, if BYD built an auto assembly plant in Peru it would be able to benefit from the Chancay Port, which is being constructed by Cosco Shipping Ports and set to open in the month of November.

The president said that the government would build an industrial park in either Chancay, or Arequipa. These are located 620 miles (1 000 km) south of the Pacific Coast.

Boluarte said that the industry of vehicle assembly could set up in either place.

China is now the biggest investor in Peru and the country's top copper buyer.

She said that instead of bringing in copper and lithium, the companies should set up an assembly line in Peru. The government will offer zero-tariffs to encourage local investment.

According to the statement, Peru is also considering an agreement with China that would replace public transport in Peru with electric vehicles within the next three or four years. (Reporting and writing by Marco Aquino, Editing by Alistair Bell).