The renewal of this agreement represents a series of advantages for ship owners, who have registered their vessels under the Panamanian flag, such as adequate measures to facilitate and expedite maritime transport to avoid unnecessary delays; grant favorable treatment in the collection of tonnage fees based on preferential rates and promote maritime and port development; full and efficient use of the maritime fleet to satisfy the demand of foreign trade. Finally, the agreement between China and Panama promotes increasing the demand for transport services for export and industrial production and maintaining close relations that allow free and unhindered access of vessels flying the flag of this Central American nation for cargo traffic to and from China.