In the News from Panama

Video: Pres. Varela Talks China, Panama Economy

In an English-language interview, Panama Pres. Juan Carlos Varela sat with a reporter from the China Global Television Network to discuss the booming relationship with China and an array of other current issues.

“We are very happy with the way [the new relationship with China] is moving,” Varela tells anchor Elaine Reyes in the interview, which was recorded at the United Nations General Assembly in New York.

Panama’s relationship with China has been moving forward at a rapid pace since the formal announcement of diplomatic ties in June. The two countries have opened embassies, started negotiations on new trade agreements and China is actively expanding its business operations in Panama.

Pres. Varela told Reyes the decision to formalize relations and find new ways to work together had been in the works for months before the announcement. “We were ready for it,” he said.

The new relationship doesn’t in anyway mean Panama was moving away from its traditional strong relationship with the United States, the President emphasized when asked about the issue. Both countries rely on Panama and the Panama Canal to move goods, Pres. Varela said. “We are all partners,” he said.

See the full interview here:

Duncan McGowan is president of Punta Pacifica Realty, a Panama real estate agency Duncanfocused on Punta Pacifica, the exclusive neighborhood of 18 towers perched on the edge of the Pacific Ocean.