Panama exits Belt and Road after pivotal 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Panama has withdrawn from the Chinese "Belt and Road Initiative" after talks with the USA.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, announced that the country will not renew the memorandum with China regarding the "Belt and Road Initiative." This decision was made after discussions with US Secretary of State Marco Rubio. According to Kommersant, Mulino emphasized that Rubio did not threaten the use of force or propose the takeover of the Panama Canal.
During the talks, references were made to remarks by US President Donald Trump, who asserted that China's presence in the region violates the 1999 agreement on the transfer of the Panama Canal. Trump assured that resolving this issue does not necessitate US military intervention.
The Chinese "Belt and Road Initiative" is a strategy focused on 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.
