President Ma Ying-jeou hosted a state banquet in honor of Republic of Panama President Ricardo Alberto Martinelli Berrocal and members of his delegation on the evening of October 22 at the Presidential Office. The two leaders also exchanged decorations.
Prior to the commencement of the banquet, President Ma decorated President Martinelli with the Order of Brilliant Jade with Grand Cordon, while President Martinelli bestowed the Order of Manuel Amador Guerrero, Panama's highest honor, on President Ma. In remarks to the gathering, President Ma said that he was deeply honored to receive the order from President Martinelli, and described the decoration as a symbol of the friendship and bond between the two nations. He said he hopes that cooperation will be further strengthened in the future, thereby further bolstering the alliance.
President Ma commented that Panama achieved independence in 1903, and China under the former Qing Dynasty (1644-1911) established a consulate general in Panama in 1909. The two countries have thus maintained formal relations for over a century, he said, adding that a feature of this longstanding relationship has been cooperation, especially in the area of economic and trade ties. When the ROC signed its first free trade agreement in 2003, it was with Panama, and it has paved the way for steady growth in the volume of bilateral trade. Trade between the two countries hit a high of just over US$307 million in 2008, or 136 times the amount before the agreement was signed. Meanwhile, he noted that the ROC's total investments in Panama now top more than US$1.2 billion. This investment has not only generated increased business opportunities and jobs, but has also fostered closer and mutually beneficial interaction between the public and private sectors, he said.
President Ma acknowledged that bilateral trade over the past two years has fallen modestly due to the impact of the global economic downturn, but noted that economic recovery is now underway and Panama's exports to Taiwan are returning to 2008 levels. He expressed confidence that further growth will be seen in the future. President Ma also mentioned that Panama's most renowned infrastructure facility is the Panama Canal. Some one million vessels have made their way through the canal since its opening in 1914, and the canal is a perfect example of globalization and the rise of the global village. President Martinelli, he said, is interested in taking Panama a step further and is moving ahead with plans to build up domestic infrastructure, including Central America's first subway system. President Ma remarked that his counterpart is using his successful experience as a businessman to promote political reform. Last year, President Martinelli won his nation's presidential election with the highest number of votes ever, and has made every effort to institute reform and promote a fair and just society since taking office. He has increased care for the elderly and students, adjusted the supply of daily essentials to the public, worked to protect state assets, promoted fairness in the tax regime, and sought to improve public transportation systems, President Ma said, adding that the ROC is very pleased to share its developmental experience with Panama.
President Ma stressed that this trip to Taiwan by President Martinelli has already yielded concrete results in terms of enhanced bilateral relations. The ROC will increase the number of Taiwan Scholarships it provides to students from Panama, and the two nations will sign an agreement exempting diplomats and officials from both nations from having to seek visas to travel to the other. This will further facilitate official contact between the two sides and help to bolster ties, he said.