HONG KONG, Feb. 24– Secretary for Commerce and Economic Development of China’s Hong Kong Special Administrative Region (HKSAR) government Algernon Yau on Tuesday lodged a strong protest with the consul general of Panama in Hong Kong over the forceful takeover of two ports by the Panamanian government.
The HKSAR government expressed strong dissatisfaction with and opposition to the Panamanian government’s forceful takeover of the two Panamanian ports on Feb. 23 operated by Hutchison Ports Panama Ports Company and the termination of its operating rights, which undermines the spirit of contracts.
The HKSAR government stressed that it is firmly committed to safeguarding the legitimate rights and interests of Hong Kong enterprises overseas.
A spokesperson for the HKSAR government reiterated that the earlier ruling made by the Supreme Court of Justice of Panama, which declared the operation of the two Panamanian ports by the company concerned unconstitutional, disregarded facts and breached faith.
The company concerned had already initiated and commenced arbitration proceedings. However, the forceful takeover of the two ports by the Panamanian government on Feb. 23 gravely damaged the legitimate rights and interests of the Hong Kong enterprise and undermined the spirit of contracts.
The HKSAR government condemns such a blatant act.
The HKSAR government urged the Panamanian government again to respect the spirit of contracts and provide a fair and just business environment for companies operating legally there, ensuring that the legitimate rights of enterprises are free from any interference.
Hong Kong enterprises operating and investing in Panama should receive fair and reasonable treatment and protection.
The spokesperson stressed that the company concerned has made vast investments in Panama and created abundant jobs over the years.
The ruling and the unjust action by the Panamanian government have sabotaged Panama’s creditworthiness and gravely undermined international trade rules.
CK Hutchison Holdings Limited on Tuesday announced on its official website that it objects to Panama’s takeover of Panama Ports Company (PPC) assets, personnel, and operations.
It said that it will continue to consult with legal advisors regarding the ruling and forceful takeover, the purported termination of PPC’s concession. (Namibia Daily News/Xinhua)
