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China and Panama Signed Maritime Agreement

Sources from the Ministry of Transport of the PRC (MOT) say that Chinese President Xi Jinping and Panamanian President Juan Carlos Varela, who visited China for the first time after the establishment of diplomatic relations witnessed a historic event. That is, the Minister of MOT Li Xiaopeng and the Minister of Panama Maritime Authority (AMP) Barakat who are respectively authorized by both sides’ governments signed "Maritime Agreement of the Government of the People's Republic of China and the Government of the Republic of Panama ("Maritime Agreement of China and Panama")" at the Great Hall of the People in Beijing on November 17. 

During the bilateral talks, the two leaders spoke highly of the importance of signing "Maritime Agreement of China and Panama" and agreed to further strengthen the deep cooperation in shipping and maritime affairs so as to jointly build the "21st Century Maritime Silk Road."

Li Xiaopeng and Barakat agreed that the shipping industry is of great significance to the economic development of both countries. Besides, China and Panama are A-level council members of the IMO and the cooperation in marine field is vital for the development of bilateral relations.
Both sides agreed to take "Maritime Agreement of China and Panama" as a new starting point to comprehensively expand the cooperation in the fields of shipping, maritime affairs, ports and other transportation infrastructures.

According to the agreement, the maritime administrations, port organizations and enterprises of the two countries will also strengthen exchanges and cooperation on the basis of equality and mutual benefit so as to jointly promote the development of both side's maritime industry and ports. The vessels flying two countries’ flags will enjoy preferential tonnage taxes and other port services most favored nation treatment when calling at both ports. The two governments recognize each other's crew identification, ship international certificates and other ship documents issued by their authorities.
Sources: Xinde Marine News
Editor: Carrie Zhu
Keywords: international maritime transportation