Panama makes first beef shipment to China

Added On June 25, 2019

The first container of Panamanian beef bound for China was shipped on Saturday from the Pacific coast port of Balboa, as part of new bilateral trade agreements between the two countries.
Economy Report has more.
President of Panama, Juan Carlos Varela, celebrated the shipment as the first of some 5,000 tons of beef to be exported to China over the coming 18 months, which will generate more than 25 million U.S. dollars in revenue for the Central American country.
SOUNDBITE 1 (Spanish): JUAN CARLOS VARELA, Panamanian President
"Very happy to witness this historic day, June 22nd, when the export of meat to China begins. The protocols for the export of pork and also of poultry chicken will be reached soon. The price rises will benefit all farmers. there is a 12 percent increase in the price, which I am sure will be maintained, and there is also market stability."
The Chinese ambassador to Panama, Wei Qiang, also called this development in trade "historic.".
SOUNDBITE 2 (Spanish): WEI QIANG, Chinese Ambassador to Panama
"This reflects the mutual interests of both countries, which represent the high level of economic complementarities of the two countries. This first shipment of meat to China represents a very high level of materialization of protein, very high level of good meat consumption that can raise Chinese people's living standards as well."

Beef is Panama's second export to China since the two countries established diplomatic ties on June 13, 2017.