Panama and China sign multiple trade agreements and mutual cooperation

With the visit of Chinese President Xi Jinping to this South American country, the Asian giant consolidates its presence in an area of ​​vital importance for business at a mumdial level
Source: El Periódico / EFE.

The governments of Panama and China signed 19 cooperation agreements on trade, infrastructure, banking, tourism and other areas, during the first visit of Chinese President Xi Jinping to the Central American country.

After meeting in private, Xi and his Panamanian counterpart, Juan Carlos Varela, sealed the pacts among which stand out an agreement through which China will provide non-reimbursable cooperation to Panama, for the execution of various projects, of which no amount was disclosed.

Also an extradition treaty and various memoranda of understanding in commercial, tourist and educational matters, among others. Varela thanked Xi’s visit and recalled that when he opened a Chinese import fair in November, he told him that China’s economy was an ocean.

Gateway to America
“I want to complement those words by sharing that Panama joins two oceans and his visit consolidates our country as China’s commercial arm and gateway to Latin America,” said Varela.

Xi arrived last night on December 2 in Panama City, in a visit that seeks to strengthen ties between the two countries and highlights the growing importance for Central America and the Caribbean, a region traditionally linked to the United States. In June of last year, Panama broke diplomatic relations with Taiwan and established them with China. This year the Dominican Republic and El Salvador did the same.

Taiwan, an island of autonomous government, has formal relations with 17 countries, almost all small and less developed nations in Central America and the Pacific. Beijing believes that Taiwan is a rebel province and has never renounced the use of force to bring it under its control.

Geostrategic alliances
Those decisions unleashed Washington’s concern, which ensures that Beijing offers economic incentives to seek domination and even called for consultations with its top diplomatic authorities in those countries.

Panama, which is negotiating a free trade agreement with China, has downplayed the US accusations and says its relationship with Washington is solid.

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