https://sputniknews.in/20250203/panama-to-cease-participation-in-chinas-belt-and-road-initiative-8729113.html
Panama to Cease Participation in China's Belt and Road Initiative
Panama to Cease Participation in China's Belt and Road Initiative
Sputnik India
MEXICO CITY (Sputnik) - The Panamanian government will not renew the memorandum of understanding with China on the Belt and Road Initiative, President Jose... 03.02.2025, Sputnik India
2025-02-03T14:22+0530
2025-02-03T14:22+0530
2025-02-03T14:30+0530
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"I have made an important decision and I am informing you of it. My government will not renew the 2017 memorandum of understanding on the Belt and Road Initiative. That is true. We will study the possibility of ending the project ahead of schedule, but I think it should be renewed in a year or two, which happens every three years," Mulino said after the meeting.As previously reported by the US State Department, Rubio told President Mulino at a meeting in Panama that US President Donald Trump did not want to maintain the status quo regarding the Panama Canal given China's increased influence in the region."Secretary Rubio informed President Mulino and Minister Martinez-Acha that President Trump has made a preliminary determination that the current position of influence and control of the Chinese Communist Party over the Panama Canal area is a threat to the canal and represents a violation of the Treaty Concerning the Permanent Neutrality and Operation of the Panama Canal. Secretary Rubio made clear that this status quo is unacceptable," the statement read.The Panama Canal connects the Caribbean Sea to the Pacific Ocean. It cuts the time for vessels to move between the Atlantic and Pacific oceans, serving as one of the crucial international transport waterways.China's Belt and Road Initiative aims to connect 65 countries around the world through digital and physical infrastructure, including building roads, ports and telecommunications networks, providing these countries with economic opportunities to develop infrastructure.Trump said in his inauguration speech on January 20 that he wanted the US to regain control of the Panama Canal, which he said was handed over to Panama but was allegedly operated by China. He also accused Panama of overcharging US ships, including naval ones. Mulino rejected Trump's claims that the canal should belong to the US.
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Panama to Cease Participation in China's Belt and Road Initiative
14:22 03.02.2025 (Updated: 14:30 03.02.2025) MEXICO CITY (Sputnik) - The Panamanian government will not renew the memorandum of understanding with China on the Belt and Road Initiative, President Jose Raul Mulino said after talks with US Secretary of State Marco Rubio.
"I have made an important decision and I am informing you of it. My government will not renew the 2017 memorandum of understanding on the Belt and Road Initiative. That is true. We will study the possibility of ending the project ahead of schedule, but I think it should be renewed in a year or two, which happens every three years," Mulino said after the meeting.
As previously reported by the US State Department, Rubio told President Mulino at a meeting in Panama that US President Donald Trump did not want to maintain the status quo regarding the Panama Canal given China's increased influence in the region.
"Secretary Rubio informed President Mulino and Minister Martinez-Acha that President Trump has made a preliminary determination that the current position of influence and control of the Chinese Communist Party over the Panama Canal area is a threat to the canal and represents a violation of the Treaty Concerning the Permanent Neutrality and Operation of the Panama Canal. Secretary Rubio made clear that this status quo is unacceptable," the statement read.
Rubio also "made clear" to Mulino that, should Panama fail to make "immediate changes" to the situation, the US reserves the right to "take measures necessary to protect its rights" under the 1977 Panama Canal Treaty, according to the statement.
The Panama Canal connects the Caribbean Sea to the Pacific Ocean. It cuts the time for vessels to move between the Atlantic and Pacific oceans, serving as one of the crucial international transport waterways.
China's Belt and Road Initiative aims to connect 65 countries around the world through digital and physical infrastructure, including building roads, ports and telecommunications networks, providing these countries with economic opportunities to develop infrastructure.
Trump said in his inauguration speech on January 20 that he wanted the US to regain control of the Panama Canal, which he said was handed over to Panama but was allegedly operated by China. He also accused Panama of overcharging US ships, including naval ones. Mulino rejected Trump's claims that the canal should belong to the US.
