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China and Panama sign agreement a few days before the arrival of Xi Jinping

Panama Organics S.A, H.Tzanetatos S.A, PROLUXA and Primero Cuarenta Group are the most outstanding in this new treaty that will generate a large investment, income and other, internationalization of different Panamanian products, highlighting fruits and food among them
  • EFE

With the International Exhibition of China's Imports, Panama-China relations announce new important steps with the possible treaty signed between the Canal Government and the country's exporters, to obtain businesses that amount to 30 million dollars.

Augusto Arosemena, Minister of Commerce and Industry, said that the companies involved in the process "achieved sales projections of over 30 million dollars as a result of more than 200 business appointments with Chinese buyers ... We are currently working with exporters to the certification of the plants by the Chinese authorities, and important advances are registered in the protocols for the certifications of all fresh and processed products, so that these sales projections can be made effective soon," according to EFE.

Panama Organics S.A, H.Tzanetatos S.A, PROLUXA and Primero Cuarenta Group are the most outstanding in this new treaty that will generate a large investment, income and other, internationalization of different Panamanian products, highlighting fruits and food among them.

These agreements come in the framework of a trade opening between the two countries since June 2017, when President Juan Carlos Varela decided to break with Taiwan and start a new trade route with the Asian giant, something that raised detractors and congratulations almost equally.

Although China is the second most important partner of the country and the Panama Canal (behind the United States), in addition to the first country in trade activities in the Colon Free Zone, the fact that a family company of Varela has participated in this fair economic caused very bad impression, as well as impenetrability and sudden actions within the process.

So far, the pending Free Trade Agreement (FTA) between the two countries is still in the negotiation phase, specifically in its fourth round, which will be attended by Xi Jinping himself on his next scheduled visit to Panama in December for a meeting with President Varela and the checking of economic activity in the Colon Free Zone, as well as the issue of the location of the embassy of his country.

Source EFE

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