Panama’s President Jose Raul Molina on Wednesday rejected the decision by the Hong Kong-based CK Hutchison to launch arbitration over the annulment of its contract to operate two ports on the Panama Canal.
CK Hutchison’s subsidiary Panama Ports Company (PPC) said it had begun arbitration after Panama’s Supreme Court last week invalidated its contrat.
US President Donald Trump last year put Panama under pressure to terminate PPC’s contract by threatening to reclaim the US-built waterway.
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