 "US Secretary of State Marco Rubio with Panama President José Raúl Mulino. X / @SecRubio")
US Secretary of State Marco Rubio on Monday welcomed Panama’s decision not to renew China’s flagship infrastructure initiative of Belt and Road Initiative (BRI). Rubio said that the move was “a great step forward” for its ties with the United States.
“Yesterday’s announcement by President @JoseRaulMulino that Panama will allow its participation in the CCP’s Belt and Road Initiative to expire is a great step forward for U.S.-Panama relations, a free Panama Canal, and another example of @POTUS leadership to protect our national security and deliver prosperity for the American people,” Rubio said in a post on X after departing Panama.
Panama was the first Latin American country to officially endorse the Belt and Road Initiative in November 2017, five months after switching diplomatic ties from Taiwan to China.
Panama’s President José Raúl Mulino announced the decision not to renew the initiative after meeting with Rubio.
Mulino said that a broad agreement between Panama and China to contribute to China’s Belt and Road Initiative would not be renewed. “We’ll study the possibility of terminating it early,” he said.
Panama among first Latin American countries to Join BRI
Five months after switching its diplomatic ties from Taiwan to China, Panama was among the first Latin American countries to participate in China’s mega infrastructure project.
BRI: A tool for ‘debt trap diplomacy’
More than 100 countries have joined Beijing’s initiative. China has rejected allegations made by the Western world and argued that the program has boosted global development with new ports, bridges, railways, and other projects.
Any move by Panama to distance itself from Chinese President Xi Jinping’s signature Belt and Road Initiative is seen as a win for Washington.
Washington has alleged that Beijing uses the Belt and Road Initiative as a tool for “debt-trap diplomacy” to increase its global influence. Panama’s move to distance itself from China’s BRI could be a win for Washington.