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President Varela seeks brotherhood with Shanghai as a port city

The Panamanian President, Juan Carlos Varela, today endorsed in the city of Shanghai the new stage of relations between China and his country and highlighted the brotherhood with this city for being both port areas of global importance.

Shanghai (China), Nov 21 (EFE) .- The Panamanian President, Juan Carlos Varela, today endorsed in the city of Shanghai the new stage of relations between China and his country and highlighted the brotherhood with this city for being both port areas of world importance.

"Shanghai and (City of) Panama are cities with common characteristics, both are coastal cities, with ports and logistics platforms that serve the global maritime sector and with a world-class financial center, "the president said in a business forum.

The president came to the considered financial capital of China to "share what we have achieved in Beijing", he said, in the first state visit of a Panamanian president after the establishment of relations bilateral between the two countries.

Last June Panama announced the recognition of the principle of "one China" and the end of diplomatic relations maintained until then with Taiwan, beginning a historic stage between Panama and Beijing.

The Panamanian leader started the official trip last week and met with Chinese President Xi Jinping, with who signed a total of nineteen cooperation agreements in different economic sectors, such as transport, tourism, investment, trade, energy or finance.

This relationship "has had a fruitful start and we will achieve important milestones in commercial, financial, maritime, political and cooperation matters, "Varela said today before a group of businessmen.

Shanghai, he assured, is "the perfect scenario to promote Panama as an investment destination" and the Latin American country, he added, is "the ideal port of entry from China to Latin America."

"It is a a safe and healthy country that will allow them from that geographical position to expand their company's presence in the region, a country that supports foreign investment and safely legal, "said Varela.

Several members of the Panamanian Government participated in the meeting today, including the Minister of Commerce and Industry, Augusto Arosemena, who He assured that Panama is "a country that has historically been very successful at attracting foreign investment."

Almost half of Central America's foreign investment is received by this country, 50% of the products that go from China to the east coast of the United States, he added.

"We are sure that after this visit the ties with China will be closer and it is going to become an even more important business partner, "said Arosamena.

After the inauguration of the Embassy of Panama in Beijing, Varela will hold the inauguration this afternoon symbolic of the Shanghai Consulate and will also participate in a forum on tourism with which he will conclude his visit to China.

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