The Vice President of the Republic, Raquel Peña, highlighted that the country has consolidated in recent years as one of the pioneers worldwide in the successful implementation of the free trade zone model, and one of the countries that has benefited the most from the “nearshoring” phenomenon in the Americas region.
While participating as Keynote Speaker at the Thirty Ninth Version of the International Commercial Exposition (Expocomer), the Vice President assured that in order to continue complementing the cycle of efforts that will lead the country to a greater dynamization of the economy with a participatory, inclusive and sustainable approach, the Investment Promotion Cabinet was created.
The main mission of this initiative is to promote, within the Public Administration, policies, guidelines and mechanisms to encourage investment in strategic sectors that contribute to the improvement and enhancement of the country’s competitiveness.
“It is essential to concentrate on attracting more investments; and in this area, the State administration headed in the Dominican Republic by President Luis Abinader has made an effort to create a more favorable business climate and to develop an investment program in infrastructure to improve connectivity”, explained Peña.
The official said that the country is convinced that Panama is a reliable partner on the road to development and expansion of trade in the Americas, and that the interest of President Abinader is to deepen the relationship between the two countries and work together in the Alliance for Development in Democracy and in all regional initiatives involved, always with the aim of raising the quality of life of both peoples and strengthen democracy and peace in the region and the world.
He specified that attending Expocomer, one of the most important multisectorial commercial events in Central America and the Caribbean, is evidence of the responsibility assumed by the Government with the strengthening of bilateral relations and especially with the wellbeing of the peoples.
He indicated that in January of this year, Panama and the Dominican Republic became part of the Declaration of the Partnership of the Americas for Economic Prosperity, together with Barbados, Canada, Chile, Colombia, Costa Rica, Ecuador, Mexico, Peru and Uruguay, a group that represents close to 90% of the GDP of the Western Hemisphere and two thirds of the population.
“Such a partnership will foster regional competitiveness, resilience, shared prosperity, and inclusive and sustainable investment, while addressing the climate crisis by pursuing high-level agreements in these critical areas,” he added.
The Vice-Minister was accompanied by a delegation composed of the Minister of Industry, Commerce and Mipymes (MICM), Víctor Bisonó; Mrs. Prisca Violeta Mazara, Ambassador of the Dominican Republic to the Government of Panama, among others.
The official participated in the opening of the Dominican Republic pavilion at Expocomer, where the Dominican Republic Export and Investment Center (ProDominicana) will accompany the Dominican delegation that highlights Dominican products in the following categories: textiles, jewelry, hair and tobacco.
The Chamber of Commerce, Industries and Agriculture of Panama is holding the Thirty Ninth Version of Expocomer from March 28-30, 2023, which features product categories such as food, beverages and agricultural products; textiles, clothing and accessories; technology and electronics.
Since its creation in 1983, Expocomer has been an important way to expand trade in the region, since each year it brings together exhibitors from more than 35 countries in Europe, Asia, Africa and America, and thousands of buyers interested in the wide variety and high quality of products and services presented in a total exhibition area of more than 15,500 square meters, which brings together more than 600 companies from over 30 countries.
Due to its 38 years of experience, it has established itself as the ideal multi-sector trade event to establish business contacts and explore, from here, new markets, products and opportunities, not only in Panama, but in Central America, the Caribbean and South America.
Learn more: DEVELOPMENT