Panama exits China's Belt and Road Initiative after US talks
Panama has withdrawn from the Chinese "Belt and Road Initiative" after talks with the USA. President José Raúl Mulino announced the decision following a meeting with Secretary of State Marco Rubio—the project aimed to develop infrastructure and trade.
The President of Panama, José Raúl Mulino, declared that the country will not renew the memorandum with China concerning the "Belt and Road Initiative." This decision was made after discussions with U.S. Secretary of State Marco Rubio. According to "Kommersant," Mulino stressed that Rubio did not threaten to use force or a takeover of the Panama Canal.
During the talks, remarks by U.S. President Donald Trump were mentioned, in which he stated that China's presence in the region violates the 1999 agreement on the transfer of the Panama Canal. Trump assured that addressing this issue does not necessitate U.S. military intervention.
The Chinese "Belt and Road Initiative" is a strategy for developing logistics and trade. 149 countries have joined the initiative.
Panama signed a memorandum in 2017, which was renewed every three years. Panama's decision marks the end of its cooperation with this project.
