Panama City, Nov. 2 (CNA) President Chen Shui-bian said Sunday that the newly signed free trade agreement between the Republic of China and Panama will benefit both countries.
Chen, who arrived in Panama City earlier in the day for an official visit after a two-day layover in New York, made the remarks at a dinner party hosted by the president in honor of Panamanian officials and local Chinese community representatives.
The ROC-Panama free trade agreement was signed by Chen and Panamanian President Mireya Moscoso in Taipei Aug. 21.
In addition to attending Panama's centenary celebrations Monday, Chen will also exchange notes with Moscoso on the bilateral free trade pact during his current visit.
Noting that Taiwan is a major transshipment hub in East Asia, Chen said Panama can use Taiwan as its springboard to tap the East Asian market under the bilateral free trade accord, which offers duty-free benefits for Panamanian products in Taiwan. In the meantime, Chen said, Taiwan will also be able to use Panama as a bridgehead to make inroads into the Latin American market.
Chen said the ROC and Panama have enjoyed a cordial relationship for nearly a century and that bilateral cooperation has further expanded since he assumed office in May 2000.
Slightly more than a month after his inauguration, Chen recalled, Moscoso made a state visit to Taiwan. And in August this year, he visited Taipei again. Chen said Panama is also the only ROC diplomatic ally that he has made more than one visit to in his capacity as president. He made his first state visit to Panama in 2001.
Chen said he takes great delight in making his second official visit to Panama to take part in the country's centennial celebrations with the Panamanian people and top leaders from major countries around the world. He also promised that his administration will make continued efforts to promote exchanges and cooperation with Panama.