Renewal of the MTA between the People’s Republic of China and Panama
The renewal of the Maritime Transport Agreement between the people’s Republic of China and Panama is close to conclude after, a friendly consultation.
In this regard, the Panama Maritime Authority, administrator of the Panama Ship Registry, pointed out that it is important to confirm that the Panama merchant fleet will maintain the same benefits uninterruptedly in their port fees and preferential treatment in the port of the People's Republic of China, confirming the status of “Most Favored Nation”.
This renewal introduces the innovation that this agreement will be for 5 years, which strengthens commercial trade relations, and the commitment of this ship registry to its users who enter ports located in the People’s Republic of China.
The renewal of this agreement represents a series of unique advantages for ship-owners who use the Panama flag registry on their vessels.