Panama, China agree to renew maritime shipping pact | News. az
Panama and China have agreed to renew a maritime shipping agreement that grants preferential treatment to Panamanian-flagged vessels at Chinese ports, the Panamanian Foreign Ministry announced on Monday. The. . .
Panama and China have agreed to renew a maritime shipping agreement that grants preferential treatment to Panamanian-flagged vessels at Chinese ports, the Panamanian Foreign Ministry announced on Monday. The decision follows negotiations held in Beijing last week, where both sides reached a consensus to begin renewing the treaty, which is set to expire later this year,News. Azreports, citingAFP. According to the ministry, the agreement provides Panamanian ships with preferential port tariffs and simplified administrative procedures in China. The renewal comes after Panama raised concerns over increased inspections of its vessels by Chinese authorities following the cancellation of a Hong Kong company's concession to operate two ports along thePanama Canal. RECOMMENDED STORIESWhy the EU fined AliExpress €550 millionXi’s planned US visit remains on schedule, Rubio confirmsWhy China has sharply increased maritime pressure on TaiwanWhy is China moving artificial intelligence computing into space?Local media reported that nearly 500 Panamanian-flagged vessels were detained for inspection in 2026. However, Acting Foreign Minister Carlos Hoyos said on Monday that inspection levels have since returned to their historical norm. China tightened inspections after a Panamanian court revoked the concession held by Panama Ports Company, a subsidiary of Hong Kong-based CK Hutchison, which had operated two terminals connected to the Panama Canal. The issue has drawn international attention after U. S. President Donald Trump argued that China exercised influence over the strategic waterway, despite the canal being managed by an autonomous Panamanian authority independent of the government. News. AzBy Nijat Babayev