Panama's President: Ports to Continue Operating Normally After Supreme Court Ruling Rubio: Encouraged by the Ruling

President of Panama, Laurentino Cortizo, stated on Friday that despite the Panama Supreme Court ruling to cancel a key port contract held by a subsidiary of Hong Kong's Cheung Kong (Holdings) Limited, the country's ports would continue to operate normally. The ruling on Thursday cast uncertainty over the future operations of some important ports near the Panama Canal.

Cortizo said that APM Terminals Panama, a subsidiary of Maersk Group, has shown willingness to temporarily take over the operation of the Balboa and Cristobal ports after the transition period, during which the current operator will continue to operate. Cortizo also mentioned that discussions have been held with several companies.

Regarding the process of Cheung Kong, Cortizo said at a press conference that he had instructed the Panama Maritime Authority to immediately meet with "Panama Port Company," a subsidiary of Cheung Kong, to coordinate subsequent steps. Cortizo stated that there would be no layoffs.

This ruling by the Panama Supreme Court comes as the competition between the United States and China in global trade routes intensifies, seen as a victory for Washington. US President Trump has long been committed to curbing what he calls Chinese influence over the Panama Canal, which carries about 5% of global maritime trade.

In Beijing, Chinese Foreign Ministry Spokesperson Guo Jiancong said at a regular press briefing on Friday regarding the Panama Supreme Court's ruling, "We believe you have also noticed that relevant companies have issued statements immediately, stating that this ruling is inconsistent with the laws under which the relevant concessions were approved by Panama, and the companies will retain all their rights, including legal procedures. China will take all necessary measures to firmly safeguard the legitimate rights and interests of Chinese enterprises."

In Washington, US Secretary of State Rubio posted on X platform, "The US is encouraged by the Panama Supreme Court's recent decision that granting port concessions to China was unconstitutional."

Source: rfi

Original: toutiao.com/article/1855782715917515/

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