Business
22:31, 20-Jun-2017
China-Panama diplomatic relations to boost bilateral trade
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Panama's business community welcomes the establishment of diplomatic ties between China and the Central American nation.
According to the Chinese Ministry of Commerce, trade between the two countries topped six billion US dollars in 2016, which was just the beginning of bilateral trade blossom.
More cooperation is coming to the industries of logistics, goods imports and exports, tourism and real estate.
The geographical location, the US dollar, and laws in Panama attract foreign investment on the real estate, both for commercial use and residential use, real estate developer Octavio Vallarino said.
Meanwhile, diplomatic relations make it possible for interpersonal communication among businessmen. Zhang Yan from Tianin Zennison Trading said that shorter visa application process would greatly help the business.
Even though China and Panama didn’t have diplomatic ties for many years, bilateral trade helped improving the relations. China has always been the second biggest user of the Panama Canal and main provider of goods to the Colon Free Trade Zone.
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