Panama, CK Hutchison initiates arbitration after concession revocation

Hong Kong (China), Feb. 4 (LaPresse) – Hong Kong’s CK Hutchison Holdings has initiated an international arbitration procedure against Panama after the Panamanian Supreme Court declared unconstitutional the concession that allowed its subsidiary, Panama Ports Company, to operate the Canal ports. The arbitration was launched at the International Chamber of Commerce in Paris. The decision has heightened geopolitical tensions between the United States and China. Beijing strongly criticized the ruling, calling it legally unfounded, and warned Panama of possible political and economic consequences. The United States, which has long raised concerns about alleged Chinese influence over the Canal, views the decision as a step to protect national security. The Panamanian government reiterated that it maintains full control of the Canal and assured the operational continuity of the ports.