Arguing that local investments could be at risk, the Maritime Chamber requested the exclusion of the maritime sector from the trade agreement that Panama negotiates with the Asiatic giant.

In a note addressed to the Chief Negotiator of Panama, the trade guild of the sector requested not to include the maritime sector, and especially the auxiliary maritime industry, in the negotiations of the FTA between Panama and China.

See “The Road to FTA with China Begins”

The note sent by the Panama Maritime Chamber (CMP), explains that “… The majority of companies that are grouped in the CMP are concerned about the impact that may have a greater presence and competition in the service provided by this trading partner in Panama, under the disciplines of a trade agreement.”

The document details that “… Due to the limitations of the Chinese legal regime to establish trade operations and the contrast in the size of both economies, the Chinese market represents an asymmetric scheme and a disadvantage for local service providers.”

Also see “China – Panama FTA Negotiations Move Forward”

Elcapitalfinanciero reviews that “… The CMP emphasizes the importance of analyzing the impact of trade agreements in some industries, especially against nations with a legal and commercial structure such as China, because it can jeopardize their development and current jobs generated, so it is necessary to give adequate protection to local industries in this negotiation process.”