On February 7, the Chinese Foreign Ministry expressed deep regret over Panama's decision not to renew the Belt and Road Initiative (BRI) Memorandum of Understanding (MoU).
In a press briefing, Foreign Ministry spokesperson Lin Jian stated that China respects Panama's decision but remains committed to deepening economic cooperation between the two nations. He emphasized that the China-Panama Economic Corridor (CPEC), a key BRI project, has already delivered significant economic benefits to Panama and the broader region.
Impact on China-Panama Economic Ties
The CPEC, launched in 2013, has been a cornerstone of China-Panama relations, supporting infrastructure, energy, and trade development. Lin Jian reiterated that despite the non-renewal of the MoU, China remains open to future collaboration and will continue to explore mutually beneficial projects with Panama.
China reassured that the BRI remains a global initiative, fostering inclusive growth and connectivity among over 150 participating countries. The Foreign Ministry emphasized that China respects the choices of its partners and will continue to promote high-quality international cooperation.
While expressing disappointment, China reaffirmed its strategic partnership with Panama, emphasizing a shared commitment to economic progress and regional stability. The future of China-Panama cooperation remains open, with both sides expected to explore new avenues for collaboration.
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