Panama has announced an agreement with China to renew a maritime shipping treaty that benefits Panamanian ships in Chinese ports.
This follows Panama’s complaints that its boats are experiencing tighter controls in China following the cancellation of a contract for Panama Ports Company—a subsidiary of Hong Kong-based CK Hutchison—that was allowed to operate two ports in the Panama Canal.
After talks in Beijing last week, the two countries decided to move forward with the renewal procedures for the agreement, a global newswire reported citing a statement by the Panamanian Foreign Ministry.
The agreement, which ends this year, offers preferential tariffs and easier bureaucratic rules for ships under the Panamanian flag in Chinese ports.
“Strengthening exchanges and cooperation between China and Panama across various fields serves the interests of both countries and meets the shared expectations of the two peoples,” Chinese Foreign Ministry spokesperson Lin Jian said.
Fibre2Fashion News Desk (DS)
