Panama Withdrew from China’s BRI Project – A Report

 


By Dr. S. Chakraborty

Recently, Panama withdrew its association with Chinese Belt and Road Initiative or BRI project. Panama is the first Latin American country to pulled out from this ambitious Chinese project. More than 20 Latin American and Caribbean countries are among the participants of BRI project. President Jose Raul Mulino confirmed that Panama already sent formal 90-day notice for the withdrawal has been submitted to Beijing.

Responding the situation, China’s Foreign Ministry spokesperson Lin Jian said that considering the overall situation and bilateral relations, China is hopeful that Panama will take the right decision. China also accused the US to use pressure and coercion to sabotage the BRI project. On Friday, China summoned Ambassador Miguel Humberto Lecaro Barcenas over Panama’s decision to not renew the MOU on cooperation with China on the BRI.

The main point of discord is the Panama Canal, an 82 km long canal that connects the Caribbean Sea with the Pacific Ocean. The Canal reduces travel time for ships between the Atlantic and Pacific Ocean. The US completed and inaugurated the Canal in 1914 and continued to control the Canal till 1977. In 1977, the US and Panama signed Torrijos-Carter Treaties. The two treaties guaranteed that Panama would gain control over the Panama Canal after 1999, which eventually ended the 1903 US- Panama, Hay-Bunau-Varilla Treaty, which gave the US construction and governance right only in the Canal zone.

In his inaugural speech on 20th January, 2025 clearly threatened to take back the Canal. The main concern of the US is growing Chinese presence around the Canal, which in any problematic situation could seriously hamper geostrategic privileges of the US regarding the Canal.

for detail

Panama Canal

Foreign Ministry Spokesperson Lin Jian’s Regular Press Conference on February 7, 2025

The Inaugural Address

China summons Panama ambassador for pulling out of BRI after Trump's threat

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