News

Panama continues to expand its international connections, which should help fuel the economy’s continued growth in years ahead.

The latest news is an agreement for the European Union to open a new diplomatic headquarters in Panama, a key symbolic step in the developing relationship. In many ways, Panama’s trade and tourism relationship with Europe is still in its infancy, especially as more airlines like Lufthansa establish direct flights.

“Raising the level of representation of this regional block in the country is a clear sign of interest in a closer and collaborative relationship,” Panama vice president Isabel de Saint-Malo said on Twitter.

Director for the Americas of the External Action Service of the European Union (EU) Edita Hrdá sounded a similar note, pointing out the opportunities for growth in the relationship between the EU and Panama. She described the agreement as “another important step in further strengthening our excellent bilateral relations.”

The new deals are part of a wave of growing partnerships around the world, including Panama’s booming relationship with China. Panama has also been improving ties to the Middle East and Dubai, in particular.

Panama is a young country and opportunities abound for business deals, corporate relationships and the in-flow of both business and tourist dollars. Earlier this year, the Panama government launched the “Falcon Policy,” a strategy that “seeks to strengthen and raise the level of political dialogue, create new opportunities for investment and commercial exchange, complement logistics and maritime platforms, increase the flow of tourists and establish mutual cooperation alliances,” La Prensa reports.