June 20, 2018
Latest News

Panama's trade minister says FTA with China will benefit many sectors

Beijing, Jun 13 (efe-epa).- A free trade agreement between Panama and China will especially benefit the infrastructure, agriculture, logistics, energy, tourism and e-commerce sectors, Panama's trade and industry minister predicted in Beijing on Wednesday.

A year after the Central American country decided to establish diplomatic ties with China, thereby cutting bilateral relations with Taiwan, Augusto Arosemena traveled to Beijing where he met his Chinese counterpart Zhong Shan to officially launch the FTA.

"The idea is to guarantee access to Panamanian products that can be exported to China, and at the same time attract investment from China to Panama using our geographical position and logistical platform to be able to bring Chinese products not only to Panama, which is a small market of 4 million people, but to all of Latin America," Arosemena said in an interview with EFE.

The first round of negotiations will start on Jul. 9 in Panama City and then talks will alternate between the two capitals every five weeks "to be able to have regular rounds and progress more rapidly," Arosamena said.

The Panamanian minister did not state for how long the talks would continue but pointed out that other treaties with foreign countries have been forged over a period of two years while stressing that on this occasion "there is a political will to negotiate it quickly."

The sectors that will benefit most from cooperation between the countries will be infrastructure - where there are opportunities for Chinese companies with experience in large-scale projects - as well as energy, logistics, manufacturing, high technology and tourism.

With respect to tourism, Arosamena said that with the growth in China's middle class, countries were trying to attract Chinese tourists. He said Panama had established a direct flight between Beijing and Panama City with a technical stop in Houston, USA, which would operate twice a week.

The minister also emphasized the opportunities for leading Chinese e-commerce companies and asserted that "Latin America is a potential market ... an emerging region in this sector, where the world's leading companies are looking at how to position themselves."

News history
EU adopts $3.24bn in sanctions against US products

Brussels, Jun 20 (efe-epa).- The European Union adopted sanctions against a list of United States products worth $3.24 billion in retaliation to President...

IKEA employees receive posthumous farewell note from the company's founder

Copenhagen, Jun 20 (efe-epa).- Employees at the Swedish retail giant IKEA have received a posthumous farewell letter from the multinational's founder, a...

Taiwan government meets to discuss China-US trade conflict

Taipei, Jun 20 (efe-epa).- Taiwanese President Tsai Ing-wen called a special government meeting Wednesday to discuss the implications of the current trade...

OPEC crude basket rises to $71.87

Vienna, Jun 20 (efe-epa).- The basket of crude oil used as a benchmark indicator by the Organization of Petroleum Exporting Countries increased to $71.87,...

China's official media lashes out at US after Trump imposes fresh tariffs

Beijing, Jun 20 (EFE).- China's official media on Wednesday strongly criticized the United States administration of President Donald Trump after it...

Australian telecom giant Telstra to cut 8,000 jobs over next three years

Sydney, Australia, Jun 20 (efe-epa).- Telstra Corp. Ltd., Australia's largest telecommunications company on Wednesday announced that it will be cutting...

South Korean cryptocurrency exchange Bithumb hacked, $31.5 million stolen

Seoul, Jun 20 (efe-epa).- South Korean cryptocurrency exchange Bithumb reported Wednesday that 35 billion won ($31.5 million) has been stolen in a cyber...

Chilean cabbies demand crackdown on Uber, Cabify

Santiago, Jun 19 (efe-epa).- Taxi drivers in this capital mounted another protest Tuesday to press the Chilean government to ensure that ride-sharing...

Argentina's Macri wants Mercosur to pursue global trade deals

Buenos Aires, Jun 19 (efe-epa).- Argentine President Mauricio Macri and Uruguayan counterpart Tabare Vazquez agreed here Tuesday that the Mercosur bloc...

Kazakhstan, Chile's Codelco sign cooperation memorandum to exploit copper

Astana, Jun 19 (efe-epa).- The Chilean National Copper Corporation (Codelco) signed a cooperation memorandum Tuesday with the National Geological...

Casio co-founder Kazuo Kashio dies at 89

Tokyo, Jun 19 (EFE).- Kazuo Kashio, the third of the four brothers who founded the Japanese electronics manufacturing company Casio Computer Co., has died...

Greek pensioners take part in an anti-austerity rally in central Athens

Athens, Jun 19 (efe-epa).- Thousands of retired Greeks took to the streets of Athens on Tuesday to take part in an anti-austerity rally and protest...

China, Bolivia sign strategic partnership agreement

Beijing, Jun 19 (efe-epa).- Bolivia and China agreed to establish a strategic partnership and signed several other agreements on Tuesday in Beijing,...

Foreign workers in Spain pass 2 million mark for 1st time since crisis

Madrid, Jun 19 (efe-epa).- The number of foreign workers in Spain has surpassed two million for the first time since before the 2008 financial crisis that...

China's central bank injects liquidity amid fears of a trade war

Beijing, Jun 19 (efe-epa).- The People's Bank of China on Tuesday injected 200 billion yuan ($31 billion) into the country's financial system through...

OPEC crude basket drops to $71.09

Vienna, Jun 19 (efe-epa).- The basket of crude oil used as a benchmark indicator by the Organization of Petroleum Exporting Countries fell to $71.09, the...

Xiaomi opts for Hong Kong listing, scraps Shanghai application

Beijing, Jun 19 (efe-epa).- Technology firm Xiaomi has opted to be listed only in Hong Kong for now and scrapped its application to the Shanghai stock...

China warns US with new measures if more tariffs are imposed

Beijing, Jun 19 (efe-epa).- China on Tuesday warned the United States that if it imposes more tariffs on Chinese imported products they will have to adopt...

Australian court fines Apple $6.6 million for misleading customers

Sydney, Australia, Jun 19 (efe-epa).- Apple will have to pay a fine in Australia of about $6.6 million in penalties for misleading customers who bought its...

US prepares new 10 percent tariffs on $200 billion worth of Chinese products

Washington DC, Jun 18 (efe-epa).- The President of the United States on Monday has requested the US Trade Representative to identify new tariffs, at a rate...

Argentine Central Bank takes steps to prop up currency

Buenos Aires, Jun 18 (efe-epa).- Argentina's Central Bank on Monday took steps aimed at stopping the peso's slide against the dollar.

UK report: digital money overtook cash-only payments in 2017 for the 1st time

London, Jun 18 (efe-epa).- According to a report published Monday, the year 2017, may be remembered as the year debit cards overtook cash to become the most...

Virgin Money tie-up is a good deal according to brokers, but concerns linger

London, Jun 18 (efe-epa).- Virgin Money Holdings' proposed GBP1.7 billion ($2.25 billion) all-share tie-up with CYBG is good news for shareholders, but some...

Google to invest $550 million in China's e-commerce player JD.com

Shanghai, China, Jun 18 (efe-epa).- Google is set to invest $550 million in Chinese e-commerce firm JD.com as part of a new strategic partnership between...

I agree Welcome to news4europe.eu. We use cookies to improve your online experience. Find out more.