In the News from Panama

Texas, Panama Expand Business Ties

Panama business leaders continue to expand their ties with Texas, a state that is home to many of the world’s largest companies and several potential trade partners.

More than 30 maritime, air, and cargo logistics executives from Texas, and the United States visited Panama recently, the latest in a series of meetings to explore new opportunities. The list of companies and organizations included the Port of Corpus Christi, Port Houston, Port of Galveston, Greater Houston Port Bureau, Houston, airport System, Port Freeport, Texas EDC, The Vessel GRP, Great Lakes Dredge & Dock, and the Irvin Chamber of Commerce, according to La Estrella.

The meetings were a follow-up to President Laurentino Cortizo’s visit to Texas in June 2021. The recent event was focused on developing real business opportunities, according to Robert Allen, president, and CEO of the Texas Economic Development Corporation.

“We are optimistic that we can generate new business investments,” Allen told the publication. “I know that resurgent business opportunities will come to this (transportation) business and many things to come from these dialogues.”

For Panama, Texas is a land of opportunity. It’s a natural trading partner, thanks to the flow of materials that flow through the ports. Panama’s logistics and trade infrastructure, and Panama Real Estate is an important cogs in helping Texas’ goods reach the rest of the world.

Many Texas companies already have operations in Panama City and are comfortable doing business here, which makes the expansion of the relationship a natural evolution.

Panama’s democracy “and the way of working together makes it easier to do business, as well as to see the security that they have a very stable economic climate, and investors are looking for more opportunities to grow,” said Ruth His, the Secretary of State of Texas.

The larger goal for Panama was to attract more investment from Texas.

Carmen Gisela Vergara, administrator of Propanama, one of the group sponsors, stressed that “we hope that the businessmen who visit us today find these interesting opportunities and want to invest in the country.”