China Expresses Regret Over Panama’s Planned Exit from Belt and Road Initiative

China has voiced its disappointment following Panama's announcement of its intention to exit the Belt and Road Initiative (BRI). Assistant Foreign Minister Zhao Zhuyuan conveyed China's concerns during a formal meeting with Panama's ambassador to China. The meeting, which took place in China, was prompted by Panama's decision to withdraw from the global development strategy initiated by China.

On Saturday, the Chinese Foreign Ministry released a public statement detailing the meeting. The ministry emphasized that the encounter was a solemn representation of China's stance. During the meeting, Zhao urged Panama to reconsider its decision, underscoring the importance of the BRI as a global development strategy aimed at fostering international cooperation and economic development.

Panama, a Latin American nation strategically positioned with the Panama Canal, has been a participant in the Belt and Road Initiative. The decision to leave the initiative has sparked dialogue between the two countries, highlighting the significance of their diplomatic and economic relations. The meeting between Zhao and the ambassador signifies the gravity with which China views this decision.

The Belt and Road Initiative, proposed by China, seeks to enhance global trade and stimulate economic growth across Asia and beyond by developing infrastructure and broadening trade links. Panama's participation was seen as significant due to its geographical position and its role in international maritime trade through the Panama Canal.

Zhao Zhuyuan's meeting with the Panamanian ambassador reflects China's effort to maintain diplomatic ties and address the challenges posed by Panama's withdrawal from the initiative. The Foreign Ministry's statement aims to publicly communicate China's position and encourage Panama to reevaluate its stance on the BRI.

Reuters, a leading global news agency, reported on Panama's intention to exit the Belt and Road Initiative. The report featured an aerial view of the Agua Clara Locks of the Panama Canal, captured on February 1, illustrating Panama's pivotal role in global shipping routes.