Latest Search
Quote
| Back Zoom + Zoom - | ||||
|
HK Govt Strongly Protests Panama's Forced Takeover of 2 Ports, which Gravely Undermines Int'l Trade Rules
Recommend 11 Positive 18 Negative 12 |
||||
|
||||
|
Hong Kong's Secretary for Commerce and Economic Development, Algernon Yau, lodged today (24th) a strong protest with the Consul General of Panama in Hong Kong. The Hong Kong Special Administrative Region (HKSAR) Government expressed strong dissatisfaction and opposition to the Panamanian government's forced takeover of two ports operated by Hutchison Ports' Panama Ports Company (PPC) and the revocation of their operating rights, which undermines the spirit of contracts. The government emphasized its resolute support for and protection of the legitimate rights and interests of Hong Kong enterprises overseas. A spokesperson for the HKSAR government reiterated that the earlier ruling by the Supreme Court of Panama, which declared the operation of the two ports unconstitutional, completely disregards the facts and is a breach of trust. The company involved had initiated arbitration proceedings, yet the Panamanian government forcibly took over the two ports yesterday, severely damaging the legitimate rights and interests of Hong Kong enterprises and violating the spirit of contracts. The HKSAR government condemns this brutal act. The spokesperson underscored that the company has invested heavily and created numerous jobs in the region over the years. The ruling and the unreasonable actions of the Panamanian government undermine national credibility and gravely damage international trade rules. AASTOCKS Financial News Website: www.aastocks.com |
||||
Copied to Clipboard
 |
||||
