Among the 19 agreements signed between the Republic of Panama and the People's Republic of China, which includes agreements on commercial, economic, financial, merchant marine, infrastructure, energy, tourism and other areas of cooperation, the project for the construction of a passenger and cargo train that connects the provinces of Panama and Chiriqui. This was announced by the Ministry of the Presidency, through a press release.
Agenda in Shanghai
Merchant marine issues will dominate much of the agenda
Inauguration of the Panamanian Consulate.
Participation in Business Forum.
A celebration of PanamaFest, to promote Chinese tourism in Panama.
The signing of this agreement gives way to a pre-feasibility study for the rail transport system that aims to take advantage of the extensive experience and technological development of the companies of the People's Republic of China in these transport systems.
The idea is to create a fast line of passengers and merchandise to neighboring Costa Rica, from where it could be extended later to the rest of Mesoamerica.
In a television interview with Telemetro, Varela said that the railway project would cover a distance of 450 kilometers in just two and a half hours and would require an approximate investment of 5,500 million dollars, which the country would pay between twenty and thirty years.
This transportation system is part of the Chinese initiative of the Strip and the Road, to which Panama has also adhered in the framework of this state visit that began on November 16 and whose main objective is the geographical integration and commercial of both countries.
The Panama Canal, the world-class air, logistics and financial platform, make the country a key player in this ambitious vision while strengthening its connectivity and consolidating it as a gateway from China to Latin America.
Prior to his transfer from Beijing to the city of Shanghai on a high-speed train, the Panamanian leader learned about the operation and technology of China's railway system, by the director of Science and Information of China Railway Corporation (CRC), Zhao Guo Tang.
He also offered a press conference in which he presented some details about the agreements signed in this visit and the role of other allied countries.
During this meeting with the media, President Varela said that Panama will play a key role as China's platform for Latin America in sectors such as investment, transport, logistics, and tourism.
According to the statement, the president highlighted the country's central position in the Latin American and Caribbean region, plus the Canal and the fact that Panama is a financial and logistical pole, with legal security and political stability.
According to Efe, Varela indicated his confidence that, despite the desire of Latin American countries to attract investment and trade from China, Panama will attract an important part of the Asian giant's economic activity in that region.
"There will undoubtedly be a lot of (Chinese) investment in the region, but each country has to create favorable conditions to attract it," he said, adding that he expects not only Chinese investment in his country, but also in other countries of the region. zona with Panama as a base.
The Panamanian president also considered that the 'strategic association' of his country with the United States 'is totally compatible' with the 'approach' to China and its use of the Panamanian platform to 'increase its presence in the Latin American region'.
Varela recalled that there are Chinese companies built in Panama a cruise port, as well as water projects and housing, or are established in the Colon Free Zone, with investments totaling one billion dollars until the establishment of diplomatic relations in June.
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Panama Moves Closer To Rail Link With Costa Rica
By Tom on December 11, 2017 in News from Panama
Post Views: 60
Panama moved a step closer to building a rail link to the Costa Rican border on Thursday, December 7 with the signing of an agreement with China to initiate a feasibility study in 2018.
It was signed by Luis Miguel Hincapie, in charge of Panama’s Ministry of Foreign Affairs and Zhong Shan, Minister of Commerce of the People’s Republic of China.
The agreement was signed in the presence of Panama President Juan Carlos Varela and Panamanian Trade Minister Augusto Arosemana at the headquarters of the Ministry of Foreign Affairs of Panama.
The Chinese Minister of Commerce said that the purpose of his visit was to follow up on the agreements reached during Varela’s visit in November. “In turn, I have highlighted the potential of infrastructure construction for both nations.”
With the signing of this agreement, China confirms that “it will grant the financing and the feasibility study for the rail project of the Republic of Panama,” Arosemena said.
Both Arosemena and Zhong Shan indicated the need to accelerate the negotiation of a Free Trade Agreement (FTA) between both nations, which should be completed by the first half of 2018.
“We hope to complete the feasibility study in June 2018 and immediately launch the negotiations,” said Arosemena.
In addition, in educational matters through an exchange of notes, both governments agreed on the amount of funding for the non-reimbursable cooperation of projects for the strengthening of “human resources, scholarships and seminars”.
Panama opened diplomatic relations with China lin June. Months later, in November, President Juan Carlos Varela met with his counterpart Xi Jinping, and from these meetings, a series of trade, economic and cooperation agreements were signed between both nations.
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Wonderful political photo-op for a "pocket-change" Chinese feasibility study.
So who will actually pony-up for the final billion $+ rail investment?
Wondering how the authorities are going to duplicate a drug interdiction checkpoint for this like the one they have on the Interamericana hwy near Tole.
K9's riding along with their badge-holding "masters" maybe...
The ROI, perhaps?
Not you or the other expats, that's for sure...;-)
Don't be so pessimistic - progress is good!
It will open the doors for mass tourism to Boquete while at the same time easing congestion on the H'way......
China has, to the best of my knowledge, “forbidden” the use of crypto currencies - thus, the argument to support the Yuan as a world wide standard - maybe.
Plus, I am pretty sure that China already has a huge part of Chiriquí - rail transport system or not.
Look at the explosive growth of David over the past few years. The new mall amazes me. This is the same town that had one traffic light in around 2010?
Life is changing here and while yes, I do see a growing Panamanian middle class here, I don’t see enough for all the development that is occurring?
Not sure - just my thoughts.
Will be glad to listen to other’s thoughts. This may have been addressed but just had to skip all the usual bickering and didn’t think it was so important to get to those who had great responses - of course I read a few and I think you know who you are LOL.
Have a great night.
VERY RELEVANT:
https://sputniknews.com/analysis/201710221058443859-china-panama-co...
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