News

In what may be a groundbreaking trip, a group of China business leaders visited Panama last week hoping to grow business connections between the two countries.

More than 35 entrepreneurs from China participated in the trip, which was led by Zhang Wei, vice president of the China Council for the Promotion of International Trade. They met with Panama’s Chamber of Commerce, Industries and Agriculture of Panama (CCIAP), in what the local press was calling the biggest meeting of China representatives in 10 years.

China considers Panama as a potential base for manufacturing plants and logistics hubs, according to media reports.

“Panama is already acting as a bridge, a window to transit Chinese merchandise to Latin America,” Wang Weihua, permanent representative of China’s Office of Commercial Development in Panama, told the Xinhua news agency. “I think that, given Panama’s logistical development, this role will increase, and will be enjoyed by more Chinese companies.”

Panama’s relationship with China is sensitive issue. Panama is one of 22 countries maintaining formal diplomatic ties with Taiwan, which China views as a rogue province. But clearly there has been a thawing of relations in recent years, with China companies involved in several large scale construction projects in Panama.

Any growth in China involvement in Panama could be huge news for the economy. China has been investing in projects throughout the region and Panama would be a natural ally, as China grows its international business. That will translate to more jobs in Panama and growth across many sectors.

The China representatives were primarily from the telecommunications, banking and construction sectors and “expressed a particular interest in investing in the energy and port sectors,” according to the Xinhau report.

“During a meeting with the Chinese business delegation, Nestor Gonzalez, Panama’s vice minister of foreign trade, said that his government is seeking to get closer to China,” the agency reported.