IDB Loans $51 Million to Panama

©image: pete

The idea of the program is to take advantage of opportunities available from Free Trade Agreements signed by the country.

"To get more access to international markets and profit from these trade agreements, Panama needs to be more competitive ... public institutions need to be more efficient in assisting exporters", reported Prensa.com.

Source: Prensa.com

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Panama Will Have an Investment Promotion Agency

November 2009

The country will create an investment promotion agency similar to those of Chile and Singapore.

The announcement was made by Economy Minister Alberto Vallarino, while attending the National Competitiveness Forum.

Vallarino explained: "It will be similar to Singapore's in attracting and promoting investment, but similar to the agencies of Chile and Colombia in commercialization and fostering agriculture".

IDB Includes Multibank Panama in TFFP Program

April 2009

Multibank has become the third bank to join the Panamanian Facilitation of Foreign Trade Financing Program (TFFP).

Through TFFP, the IDB offers guarantees to cover letters of credit, promissory notes, bid bonds, performance bonds, advance payment bonds and other instruments used in International Trade transactions.

Panama is China's 5th Commercial Partner in Latin America

March 2011

Commerce between Panama and China summed $11,9 billion in 2010.

In a recent study, PriceWaterhouseCoopers (PWC) affirmed that China's ascendance in global trade is making it approach Latin American economies, which suffered relatively minor damage from the international crisis.

Torrijos launches four-year plan to make Panama more competitive

June 2008

President Martín Torrijos launched a program to make Panama more competitive and open the nation's trade.

The four-year "Impulso Panama" plan is being backed in its first stage with US$95 million of investment, of which 52.5 percent will come from the Inter-American Development Bank and 38.1 percent from the government.