Panama´s new government is aggressively seeking to promote Panama´s exports abroad. In 2010 Panama´s President Ricardo Martin
elli, is scheduled to visit Singapore along with the Minister of Commerce and Industry to further commercial relationships with this country. Singapore currently has a Free Trade Treaty with Panama and Panama benefits from most of Singapore´s foreign investment.
The visit to Singapore by the President in 2010 follows a recent visit to this country by the Minister of Commerce and Industry, Mr. Roberto Henríquez, who traveled to attend an industrial forum and as observer to the APEC (Asia-Pacific Economic Cooperation) forum as well. Asia-Pacific Economic Cooperation, or APEC, is the premier forum for facilitating economic growth, cooperation, trade and investment in the Asia-Pacific region. Panama wishes to join the APEC next year when the new member moratorium ends.
The Minister of Commerce and Industry also went to observe Singapore´s Subway which has an interesting model which might be adaptable to Panama as is is self-sustainable. Panama also wishes to open the Singapore market to Panamanian exports, most specifically melon.
Another Asian country with a free trade agreement with Panama where Panamanian exports seem to be doing well is Taiwan. Currently Panama exports its beef to Taiwan and is negotiating to export pork as well. Panama is currently supplying Taiwan with all the quality specifications of local pork products in order to get the necessary permits. Sugar is another Panamanian products which may enter the Taiwanese market. Panamanian experts are scheduled to travel to Taiwan to verify the quality and production requirements necessary for Panamanian sugar to be traded in this market. Melons may also be exported once the pertinent requirements are met.
This is a great opportunity for Panama to further its export strategy in the agra sector which was hard hit this year due to climatic upheaval as well as tariff issues with European Union where a great percentage of Panama´s melon crop is exported.
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