Chinese companies interested in using Panama as Latin America entry point

Wang added that Panama is a potential base for manufacturing plants, which is helped by the country's reputation as a logistical center.

According to Wang, the fact that a ship belonging to China's Cosco Shipping was the first to pass through the newly expanded Panama Canal on June 26 attracted a lot of attention to the country.

Wang said that a big Chinese business delegation arrived in Panama this week and visited the Panama Chamber of Commerce, Industries and Agriculture (CCIAP).

During a meeting with the Chinese business delegation, Nestor Gonzales, Panama's vice minister of foreign trade, said that his government is seeking to get closer to China.

Wang said the Chinese delegation was made up of around 35 Chinese entrepreneurs, led by Zhang Wei, vice president of the China Council for the Promotion of International Trade (CCPIT). The delegates mainly come from the telecommunications, banking and construction sectors and expressed a particular interest in investing in the energy and port sectors.

The Chinese delegation will stay in Panama until Friday, when it will visit the Colon Free Trade Zone to learn about its infrastructure and port capacity.

An agreement was also signed between the CCIAP and the CCPIT to jointly develop business and to seek opportunities to expand Panamanian exports to the Chinese market.

"Business between the Americas and China will continue to grow, representing a big opportunity for SMEs (small and medium enterprises)," Jorge Garcia, president of the CCIAP, told the Chinese delegation during the meeting.

Panama is one of just 22 countries to maintain formal diplomatic ties with Taiwan. China claims Taiwan as a wayward province and says it has no right to diplomatic relations with anyone.

The 35 Chinese entrepreneurs, lead by Zhang Wei, vice president of the China Council for the Promotion of International Trade, arrived in Panama this week, Xinhua said.

The delegates mainly come from the telecommunications, banking and construction sectors and "expressed a particular interest in investing in the energy and port sectors", it added.

"During a meeting with the Chinese business delegation, Nestor Gonzales, Panama's vice minister of foreign trade, said that his government is seeking to get closer to China," it said.

China views Panama as a potential base for manufacturing plants, said Wang Weihua, permanent representative of China's Office of Commercial Development in Panama, Beijing's de facto embassy there.