China Expresses Concern To Panama Over Abandonment Of Silk Road Agreement

(MENAFN- Newsroom Panama) Panama City: Zhao Zhiyuan, Deputy Foreign Minister of China, summoned the Panamanian ambassador to the Asian country, Miguel Lecaro (pictured below), to formally express solemn representations regarding Panama's recent announcement to abandon the Memorandum of Understanding (MOU) related to the Belt and Road Initiative (BRI). This agreement had been a key pillar in bilateral cooperation since 2017, when Panama joined the global infrastructure strategy promoted by the Chinese government.

In a statement posted on the Chinese Foreign Ministry's website, Zhiyuan said“China deeply regrets Panama's recent announcement that it will terminate the Belt and Road MoU.” He also said that within the framework of the Belt and Road cooperation, practical cooperation between China and Panama in various fields has developed rapidly and achieved a series of fruitful results, bringing tangible benefits to Panama and its people.

“More than 150 countries have actively participated in the Belt and Road Initiative, and its results have been fruitful. Turning back and sailing against the wind in Belt and Road cooperation goes against the expectations of the Chinese and Panamanian peoples and is not in the vital interest of Panama,” Zhiyuan said.

Zhiyuan stressed that China respects Panama's sovereignty and territorial integrity and believes that all countries, large and small, are equal and should respect each other and honor their commitments.

“China firmly opposes the US deliberately undermining China-Panama relations and smearing and sabotaging Belt and Road cooperation,” - Zhao Zhiyuan – Deputy Foreign Minister

He stressed that“China-Panama relations never target any third party and should not be disturbed by any third party. China hopes that the Panamanian side will eliminate external disruptions and make the right decision taking into account the overall bilateral relations and the long-term interests of the peoples of the two countries.”

For his part, the Panamanian ambassador, Miguel Lecaro, tried to ease the situation, assuring that Panama attaches great importance to its relations with China and that he would immediately inform the Panamanian government. This week, during his weekly press conference, President José Raúl Mulino, in a brief response to questions from journalists about relations with China, said that he does NOT contemplate breaking them off.

What is the Silk Road?

The Silk Road is a historical network of trade routes that connected Asia with Europe and Africa, facilitating the exchange of goods, cultures and knowledge for centuries. Its origins date back to the Han Dynasty (2nd century BC), and it was established as a key route for the expansion of products such as silk, spices, porcelain and other valuable goods, hence its name. In the 21st century, the concept was revived through the China-led Belt and Road Initiative (BRI). In 2013, Chinese President Xi Jinping launched the BRI with the aim of developing infrastructure and strengthening trade among Asia, Europe, Africa and Latin America through investments in ports, roads, railways and other strategic infrastructure. Panama joined the Belt and Road Initiative (BRI) in 2017, signing a memorandum of understanding with China to strengthen cooperation in infrastructure and trade. However, recently, Panamanian President José Raúl Mulino announced that his government will not renew this agreement. This decision marks a change in Panamanian foreign policy, seeking to balance its relations with China and other powers, such as the United States.

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