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Weekly Report - 21 June 2018 (WR-18-24)
PANAMA: Panama-China relations one year on
The governments of Panama and China last week officially launched negotiations in Beijing for a free trade agreement (FTA), a year after the two forged diplomatic ties, following Panama’s decision to break with Taiwan. The prospect of increased trade and investment comes as President Juan Carlos Varela and his coalition government, led by the Partido Panameñista (PPA), are facing criticism from the local private sector following the decision by the International Monetary Fund (IMF) to revise down its 2018 growth forecast for Panama. This stems in large part from the impact of a strike which lasted over a month, called by the influential construction workers’ union, Sindicato Único de Trabajadores de la Construcción y Similares de Panamá (Suntracs), in demand of higher wages.
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- Quotes of the week