After the Cortizo administration announced that Panama will limit itself to signing a partial scope agreement, Chinese authorities reported that they are still interested in negotiating a high-level free trade agreement.

Although five rounds of negotiations had already taken place, in late August representatives of the Ministry of Commerce and Industries (Mici) explained that they seek to limit the scope of the trade agreement with the Asian giant to the exchange of agricultural and industrial goods, which is known as a partial scope Free Trade Agreement (FTA).

See “Panama – China FTA: Fifth Round of Negotiations”

Wei Qiang, ambassador of the People’s Republic of China in Panama, explained to Elcapitalfinanciero.com that “… during the last administration of President Juan Carlos Varela, the negotiations between the People’s Republic of China and Panama, for the signing of an FTA, were professionally developed and advanced significantly after five rounds of negotiations, so the country hopes that the new administration of President Laurentino Cortizo will continue this effort to strengthen economic relations between the two countries, serving the needs and interests of both parties.”

Qiang added that “… the Chinese market is already open to all foreign products, as long as they meet the sanitary and quality requirements demanded by the authorities of that country, paying the corresponding tariffs and so far both countries have collaborated in the approval of phytosanitary and zoosanitary protocols for several Panamanian products, which are already entering the Asian market, a situation that will not be affected by a change in the breadth and depth of the trade agreement finally reached by our two countries.”

According to the diplomat, the future of the negotiations will depend on the possibilities of the two parties to reach an agreement.