APN News

  • Wednesday, October, 2019| Today's Market | Current Time: 02:36:05
  • By Sachin Murdeshwar

    Mumbai: “The recently-elected Panama government is pro-business and is looking to strengthen its bilateral relations with India. Panama has a major influence on the world economy and is also a major player in the Latin American and Caribbean region. Panama is exploring partnerships with Indian companies in areas such as IT, pharmaceutical, shipping and logistics, and banking and finance”, said Mr. Richard Kilborn, National Investment Promotion Director, Ministry of Commerce and Industry, Republic of Panama at an interactive meeting organised by World Trade Center Mumbai and All India Association of Industries (AIAI) with Trade and Investment Promotion delegation from Republic of Panama. The programme was supported by Embassy of Panama, New Delhi and Indo Latin American Chamber of Commerce (ILACC).

    Mr. Kilborn highlighted “Although Panama is small compared to India in terms of its population and area, it offers state-of-the-art infrastructure in the form of seaports, shipping lines, airports and connectivity, serving as a hub of hubs.  We have tropical rainforests attracting tourists from across the globe and are promoting medical tourism by offering world-class healthcare with latest technology. We also offer scenic filming locales and unique film post-production facilities.”

    Speaking on ease of doing business in Panama, Mr. Kilborn said, “We have a stable economy and we do not differentiate between local and foreign investors. We invite Indian business fora in exploring investment opportunities in Panama, and specifically, the Panama Canal expansion project.”

    Mr. Hardeep Singh Bhullar, Marketing Investment Director, Ministry of Commerce and Industries, Republic of Panama said “In Panama, we have a very productive Indian community. Since three years, we are promoting the programme ‘Panama Meets India’ to promote bilateral trade and investment. This year, Mumbai is the second-last leg of our five-city tour to India and so far, we have received very encouraging responses.”

    Mr. Raj Kumar Sharma, Founder President and CEO, Indo Latin American Chamber of Commerce, remarked “We should develop a regional cooperation agreement between Asia and the LAC region on the lines of BRICS, BIMSTEC etc. We need to revive our technological cooperation and promote sister-city cooperation. We invite Indian businessmen to be a part of our delegation to EXPOCOMER 2020 in Panama City”.

    Earlier in her Welcome Address, Ms. Rupa Naik, Senior Director, MVIRDC World Trade Center Mumbai said, ”Panama is the only country with a terminal with access to two oceans – the Atlantic and the Pacific in a distance of only 80 km. With a stable economy, Panama has a regulatory framework that safeguards foreign investments. Panama’s multimodal logistics hub provides excellent global connectivity to foreign companies established in its Free Zones. I hope this programme brings about fruitful collaborations between Panama and Indian business community.”

    Also present during the event were Mr. Jose Ibanez, Film Commissioner, Ministry of Culture, Mr. Prabhakar Sharan, Bollywood and Latin American actor and Vice President, Indo-Latin American Chamber of Commerce and Ex Colonel NP Singh, Director – Global Business Development, Indo-France European Triangle.

    The event was attended by representatives from trade and industry, startup enterprises, women entrepreneurs, film fraternity, consultancy organisations and other stakeholders.

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