Panamanian President Jose Raul Mulino expressed hope that the ongoing legal battle with a Hong Kong company over the operation of the Panama Canal ports “will not escalate“, but that his country's government will remain firm in its decision against the company, the Associated Press reported.
“Panama is a worthy country and will not allow itself to be threatened by anyone on earth,“ Mulino told reporters, commenting on criticism from the Chinese government.
His words came a week after Panama's Supreme Court ruled that a concession owned by a subsidiary of Hong Kong's “CK Hutchison“ (CK Hutchison) in the Panama Canal is unconstitutional.
The court's ruling is seen as a victory for President Donald Trump, who has sought to block Chinese influence over the strategic waterway. The U.S. pressure has thrust the Central American nation into the center of a geopolitical struggle.
China has warned that Panama will pay a "heavy price" if the Panamanian ruling is upheld.
Hong Kong-based CK Hutchison said it strongly disagreed with last week's ruling, and on Wednesday its subsidiary announced it had initiated arbitration proceedings against Panama.
Mulino said that until the court's ruling is implemented - a period he did not specify - Panama's maritime authorities will work with a subsidiary of “CK Hutchison“ to ensure the continuation of port operations.
After the concession officially ends, a local subsidiary of Danish logistics company “A.P. Moller-Maersk“ will manage the ports in a transitional phase until a new concession can be proposed and awarded, Mulino added.
/ВТ/
Source: www.bta.bg