Panama reaffirms sovereignty over canal

PANAMA CITY — Panama's President Jose Raul Mulino said on Sunday that the Panama Canal will "continue to be in Panamanian hands", after US President-elect Donald Trump threatened to retake it.

Every square meter of the canal and its adjacent area belong to Panama and "will remain so", Mulino said on social media, adding "the sovereignty and independence of our country are not negotiable".

Trump on Saturday called the Panama Canal a "vital national asset" for the United States and threatened to retake it, citing "exorbitant prices" on US ships.

According to the Torrijos-Carter Treaties signed in 1977 by Panama's president Omar Torrijos and US president Jimmy Carter, Panamanians recovered their sovereignty over the canal on Dec 31, 1999.

Mulino said the treaties established the permanent neutrality of the Panama Canal, "guaranteeing its open and safe operation for all nations" and that "any position to the contrary is invalid".

" (The tariffs) are established based on an open hearing, considering market conditions, international competition, operating costs and the maintenance and modernization needs of the interoceanic waterway," he said.

"The canal will continue to be in Panamanian hands as an inalienable patrimony of our nation and guaranteeing its use for the peaceful and uninterrupted transit of ships of all nations."

Xinhua