Panama has officially announced its withdrawal from China's global infrastructure project One Belt, One Road. This was announced by the country's President Jose Raul Mulino, UNN reports.
Details
Panama's diplomatic representatives have already submitted an official notice of withdrawal from the memorandum of understanding signed in 2017. The country's authorities are reviewing previously concluded agreements, analyzing their impact on the economy and strategic interests.
Panama's decision was made amidst US concerns about China's growing influence in the region. Particular attention was drawn to the Panama Canal, which is a key transportation artery for world trade. Washington has repeatedly expressed concern over Chinese investment in this infrastructure facility.
Today, China does not have direct control over the canal, but Chinese companies are involved in the construction of infrastructure facilities and port management. The Panamanian authorities have launched an audit of the Chinese operators' activities, stating that they are ready to respond to possible violations, but exclude the possibility of unilateral termination of existing contracts.
Panama's withdrawal from China's initiative coincided with the visit of U.S. Secretary of State Marco Rubio, who met with President Mulino. The American side called this decision an important step in countering Beijing's influence in Latin America.
In response, China expressed regret over Panama's withdrawal from the project and criticized the US position, accusing Washington of interfering in the internal affairs of sovereign states. Chinese officials insist that the Belt and Road Initiative is aimed at economic development and cooperation, not political pressure.
Panama rejects US demands for free passage through the canal06.02.25, 14:44