The Government of Panama presented the extradition treaty recently signed with China in the country's parliament, which has to approve it by the majority for its entry into force, informed on Tuesday an official source.
The Panamanian Foreign Ministry explained in a statement that the treaty seeks to "promote effective cooperation in the repression of crime" and is based "on reciprocal respect for sovereignty, equality, and mutual benefit."
The treaty was signed on December 3 during the historic visit to Panama of Chinese President Xi Jinping, the first president of the Asian giant to make an official visit to the Central American country.
The person in charge of sustaining the agreement was the Panamanian vice-chancellor, Luis Miguel Hincapié, who also presented in the Parliament, of 71 deputies and of opposition majority, an agreement with China on education, another cultural one and another on technology, innovation, and rational use of energy.
In the extradition treaty, "the parties undertake to extradite each other to persons (...) who are in their territory and who are claimed by the requesting party for criminal proceedings or execution of a sentence imposed on that person," according to the text.
Since Panama broke diplomatic relations in Taiwan in June 2017 and recognized the "one China" principle, both countries have signed twenty cooperation agreements.
Since then, China has also increased its presence in Panama and its companies have been awarded multi-million dollar contracts, such as building a kilometric bridge over the Panama Canal.
The Asian giant, with whom Panama negotiates a free trade agreement (FTA), is also the second user of the interoceanic canal, behind the United States, and the first supplier of the Colon Free Zone, the largest free zone in the hemisphere, located in the Panamanian Caribbean.