China and Panama ties bring benefits
The rating agency Moody’s said that the Panamanian economy will increase after the new relationship of Panama with the Republic of China, which has already paid off with the signing of 19 agreements in different sectors.
“The new ties with China will support strong continued growth in Panama over the next decade.” This is Moody’s rating agency’s estimate of the agreements signed between both countries that involve the finance, tourism, logistics and trade sectors.
The agreements provide the basis for the Development Bank of China to open a branch office in Panama to promote and finance large infrastructure projects for the Government of Panama. According to a report on the ties of the two countries, he said: “The new investment will help sustain the high investment rates and growth of Panama, which during the last decade was driven by investment, with a capital formation that averaged 41%. % of GDP “.
For Moody’s, the increase in commercial ties and the expansion of tourism flows, which will increase China’s familiarity with the country, makes Panama an attractive platform to serve Latin American markets.