Ties to boost trade in the Americas

Panama will become a major regional hub for China as it further enhances business ties with the rest of the Americas through a potential free trade agreement, the Belt and Road Initiative and growth in the shipping sector, officials and business executives said.

Many opportunities arose after the two countries established diplomatic ties last year. They include companies from both nations making more moves related to investment and trade - especially in infrastructure and tourism development, service collaboration, mining and agricultural products, said Zhang Shaogang, director-general of the Department of International Trade and Economic Affairs at the Ministry of Commerce.

Commerce officials from the two countries have held four rounds of meetings on the China-Panama FTA since June of last year, reaching agreement on almost half the chapters, including sanitary measures, technical trade barriers, e-commerce and intellectual property.