The President of the Republic, José Raúl Mulino, has announced that his administration will not renew the memorandum of understanding signed in 2017 with China regarding the Silk Road and will evaluate the possibility of terminating it before its expiration.
In his statements, President Mulino expressed: "The memorandum of understanding from 2017 regarding the Silk Road has not met the expectations we had in terms of economic benefits for our country".
The agreement between Panama and China, signed during the previous administration, aimed to promote cooperation in infrastructure and trade projects through the linkage of the Silk Road with Panama's logistical development.
However, the current president believes it is necessary to reevaluate this partnership and seek alternatives that generate a greater positive impact on the Panamanian economy. Decisions in this regard are expected to be made in the coming weeks.
