Panama formally exits China’s Belt and Road Initiative as US claims ‘victory’ in decision

Name: Panama formally exits China’s Belt and Road Initiative as US claims ‘victory’ in decision
Uploaded: 2025-02-06T19:27:01.000Z
Duration: 2 min 5 s
Description: Panama formally exits China’s Belt and Road Initiative as US claims ‘victory’ in decision

Panamanian leader questions intention of those who signed 2017 deal and addresses concerns about Beijing’s investment in Panama Canal

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Panamanian President Jose Raul Mulino has ruled out a unilateral cancellation of a Hong Kong-based company’s concession to operate two ports in the Panama Canal. Photo: Presidencia de Panama/Handout via Reuters

Igor Patrickin Washington

Published: 3:27am, 7 Feb 2025Updated: 5:29am, 8 Feb 2025

Panama has officially informed Beijing of its decision to withdraw from China’s massive infrastructure and investment project, the Belt and Road Initiative, the country’s leader announced on Thursday.

Panamanian President José Raúl Mulino said he had instructed diplomats at the Central American country’s embassy in Beijing to submit the required 90-day notice of withdrawal from the memorandum of understanding signed in 2017.

“I do not know what was the intention of those who signed this agreement with China. What has it brought to Panama all these years? What are the great things that this Belt and Road Initiative has brought to the country?” Mulino said at a press conference.

“So, no [we will not participate],” he added. “This is a decision I have made.”

02:05

Panama formally exits China’s Belt and Road Initiative as US claims ‘victory’ in decision

Mulino also addressed concerns about Chinese investment in the Panama Canal, the strategic waterway whose management and operations have drawn scrutiny from US President Donald Trump and his new administration.

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