Republic of China –Taiwan officially cut its ties with Panama on Tuesday, closing its embassy, recalling its technical mission and ending all bilateral cooperation and aids according to statement released from Taiwan.

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ROC condemns Panama for disregarding longstanding relationship and establishing ties with Beijing for economic gains. It further asserts that such act was done in disrespectful manner by keeping ROC in the dark about their decision until very last minute.

On Monday, Panama announced that it had broken its diplomatic ties with Taiwan and established formal ties with China. In its official statement, it states that it recognized there was “only one China in the world” and that Taiwan is part of China territory.

ROC President Tsai Ing-Wen in a statement strongly asserted Taiwan’s sovereignty stating that “Our Sovereignty cannot be challenged and cannot be traded away.”

Accusing Beijing for “consistently manipulating the “one China” policy, President Ing-Wen asserts that the Republic of China is a sovereign nation.

Directly addressing Beijing in her statement, President Tsai Ing-Wen declare that Taiwan has fulfilled its role of safeguarding peace and stability across Taiwan Strait and will not “sit idly while our national interests are repeatedly threatened and challenged.”

“Although we have lost a diplomatic ally, our refusal to engage in checkbook diplomacy, the fact of the ROC’s existence and Taiwan’s value and status in the international community will not change,” remarked ROC President Tsai Ing-wen. [/restrict]