Peru and Panama Strengthen Trade Ties

Source: andina

Trade between Peru and Panama will significantly increase once the Free Trade Agreement (FTA) signed between both countries comes into effect starting next year, Panama’s agency for the Attraction of Investments and the Promotion of Exports (Proinvex) said.

Proinvex project manager Johnathan Rodriguez noted that Panama is an importer par excellence and Peru could take advantage of that by selling fresh products that may enter the market with preferential tariff rates.

“Peru may boost its agricultural and manufactured exports to Panama. There could even be a free trade zone from which Peruvian products may be distributed to Asia, Europe or North America,” he said Thursday.

In addition, Rodriguez mentioned that Panama is keen to invest in Peru’s financial sector, that is, banking, insurances, bonds, infrastructure and logistics.

Yesterday, Peru’s National Port Authority (APN) held a working meeting with a trade delegation composed of several authorities and entrepreneurs from Panama.

According to the project manager, the main objective of said trade mission is to strengthen trade and investment ties with Peru, for which the Logistics Forum: Business Opportunities between Peru and Panama is to take place today.