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Dubai Chamber comes back from Panama with trade deals

A delegation of 70 businessmen from the UAE led by the Dubai Chamber of Commerce and Industry, recently concluded a trade mission to Panama aimed at exploring emerging business opportunities in Latin America through the regional trade hub.

The visiting delegation met with key stakeholders from the Panama’s public and private sectors, including Juan Carlos Varela, President of Panama; Isabel de Saint Malo de Alvarado, Vice President and Foreign Minister of Panama; Nestor Gonzalez, Minister of Industries and Commerce, Panama; and other top government officials and businessmen from the country on the sidelines of the 3rd Global Business Forum, GBF, on Latin America in Panama City which coincided with the week-long trade mission.

During a private meeting, Varela highlighted the key areas of progress between Panama and the UAE, such as easing of visa restrictions, the opening of embassies and the hosting of GBF Latin America 2019 in Panama, which he described as important developments that will pave the way for continued business exchange and commerce between the two countries.

Varela stressed the importance of leveraging Panama’s strategic position to boost connectivity between Latin America and GCC regions, and pointed out the attractive advantages that his country can offer UAE companies, such as its advanced logistics sector, sound financial infrastructure and business-friendly environment. He called on government and business entities in Panama to participate in Expo 2020 Dubai which he described as an ideal opportunity to enhance the country’s cooperation with the UAE and expand its reach in the Middle East.

Majid Saif Al Ghurair, Chairman of Dubai Chamber, noted that there is enough scope to expand Dubai’s cooperation with Panama in key sectors such as logistics, infrastructure, finance, tourism, renewable energy, manufacturing and innovation-focused industries.

de Alvarado said that future governments in Panama will have the resources to establish infrastructure projects such as the new port facility near the Panama Canal which is creating new opportunities for foreign companies and investors and enhancing the country’s competitiveness.

The visiting delegation was led by Al Ghurair and included Mohammed Ahmed Bin Abdul Aziz Al Shehhi, Under-Secretary for Economic Affairs in the UAE Ministry of Economy; Eduardo Fonseca Ward, Ambassador of the Republic of Panama to the UAE; Hisham Abdulla Al Shirawi, 2nd Vice Chairman, Dubai Chamber; Hamad Buamim, President and CEO of Dubai Chamber, along with other representatives from the UAE’s diplomatic and business communities.

Source: WAM

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