Panama – Market of the Month October 2007
Due to its strategic location at the mouth of two oceans, and the meeting of two continents, Panama, has historically served as the crossroad of trade for the Americas. Today the country is not only maritime shipping and air transport hub, but also an international trading, banking, and services center. Panama has recorded one of the highest economic rates in the region (above eight percent during the last two years). The Panama Canal Expansion cost is estimated at over $5.2 billion, which is expected to continue fueling the growth of the economy during the next few years.
The United States and Panama concluded free trade negotiations of the U.S.-Panama Trade Promotion Agreement on December 19, 2006 and signed the Agreement on June 28, 2007. Both countries need to also pass implementing legislation before the U.S.-Panama TPA can enter into force.
Best prospects for U.S. companies include construction equipment and supplies, travel and tourism, material handling equipment, environmental equipment and services, medical equipment and supplies and many more.
Learn more about opportunities in Panama today: http://www.export.gov/articles/MoM_PanamaOct2007.asp
(Information compiled by The Marketing and Communications office)
For more information please view the documents below: