Costa Rica Coffee Guide

Panamanian president Varela: China to accelerate its Latin American rise

November 28, 2017

PANAMA CITY  – China is taking steps to increase its presence in Panama in order to expand its influence throughout Latin America, according to Panamanian president Juan Carlos Varela.

Varela made the comments upon returning home from a historic visit to China and meetings with President Xi Jinping. The two presidents signed 19 accords ranging from trade and investment to immigration, tourism and energy. Panama also opened its first embassy in China.

“This visit will mark a before and after, without any doubt,” Varela said.

The Panamanian government expects that with a dollarized economy, an inter-oceanic canal and a financial system with more than 100 banks, Panama could become the point of entry to the region for many Chinese companies. Today, approximately 30 Chinese businesses have operations in Panama, in fields including telecommunications, maritime transport, banking and construction.

 

Chinese Foreign Minister Wang Yi has said several times that his country seeks a “connection” in Panama in order to strengthen China’s trade and diplomatic ties to the region.

Panama ended its diplomatic relations with Taiwan in June (as Costa Rica did in 2007), but China had already set up a commercial office in Panama by that time.

 

The government of Panama expects investments from China for major infrastructure projects including ports, energy plants, a fourth bridge over the Panama Canal, a train line to the Costa Rican border, and a third metro line in the capital.

 

You may be interested

Managua airport resumes flights after coronavirus closure
Central America
474 views
Central America
474 views

Managua airport resumes flights after coronavirus closure

AFP - September 21, 2020

Managua's international airport on Saturday received its first commercial flight almost six months after airlines suspended routes as a precaution…

Air Canada includes COVID-19 insurance with purchase of flight
Costa Rica
1998 views
Costa Rica
1998 views

Air Canada includes COVID-19 insurance with purchase of flight

Alejandro Zúñiga - September 21, 2020

Eligible Canadian residents will receive COVID-19 insurance included in the price of their international round-trip ticket with Air Canada, news…

Slothy Sunday: The aquatic lives of sloths
Sloth Sundays
1757 views
Sloth Sundays
1757 views

Slothy Sunday: The aquatic lives of sloths

The Tico Times - September 20, 2020

Did you know that sloths are excellent swimmers? They instinctively know how to swim once they hit the water. This ability…