Diplomatic ties to bring new opportunities for China-Panama trade ties

Updated 2017-06-23 10:30:23 Xinhua

Establishment of diplomatic ties will bring new opportunities for China-Panama economic relations, according to the Chinese Ministry of Commerce.

China and Panama have opened up a new chapter of trade after the two countries established diplomatic ties on June 13, Sun Jiwen, spokesman of the ministry, said at a press briefing.

Panama is China's largest trading partner in Central America. Bilateral trade hit 6.38 billion U.S. dollars in 2016. China's direct investment in Panama has exceeded 230 million U.S. dollars.

By the end of 2016, China has contracted projects worth 1.33 billion U.S. dollars in Panama. Nearly 30 Chinese companies are running marine shipping, telecommunications, financial and infrastructure business in Panama with local partners, creating jobs for local people.

China is the second largest user of the Panama Canal with over 1,000 ships passing through the canal every year.

Sun said diplomatic ties would allow the two governments to work out more favorable policy on trade and expand cooperation in financial and infrastructure development.

Also in the News

Nicole Kidman Recalls Oscar Glory: Loneliest Time
Showbiz2016/06/16 13:58July 21 2018 23:05:56

Nicole Kidman Recalls Oscar Glory: Loneliest Time

Attending Shanghai International Film Festival, Nicole Kidman talks about her role in "Grace of Monaco".

Labor Day Travel Peak Starts
Also in the News2014/05/01 12:16July 21 2018 23:05:56

Labor Day Travel Peak Starts

Johnny Depp Delivers a Speech 'Evolve the Future' in 'Transcendence'
Also in the News2014/04/18 13:18July 21 2018 23:05:56

Johnny Depp Delivers a Speech 'Evolve the Future' in 'Transcendence'

Hollywood star Johnny Depp's speech in the upcoming new film "Transcendence" has been disclosed on Friday, April 11th.

Most Watched

China World Business Sports Showbiz Audio
C4 My Chinese Life The Sound Stage China Revealed Showbiz Video Travel Video
China World Fun Travel Entertainment Sports
Beijing Shanghai Guangzhou
Live Music Opera & Classical Movies Traditional Shows Exhibitions
Learn Chinese:
Chinese Studio Living Chinese Everyday Chinese Just For Fun Chinese Culture Buzzwords