U'S' Commercial Service Panama

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U'S' Commercial Service Panama

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Title: U'S' Commercial Service Panama

1
U.S. Commercial Service Panama

Panamas Business Opportunities
Nicholas R. Kuchova
Senior Commercial Officer
Embassy of the United States of America

2
U.S. Commercial ServiceU.S. Embassy Panama
The U.S. Commercial Service is part of the U.S.
Department of Commerce, with 101 offices in the
50 States and 70 countries world wide.

Our Mission
To help U.S. businesses find qualified
international partners.
To represent U.S. business interests
internationally.

3
PanamaThe Cross Roads of the World
Location, Location, Location, more significant
than size!!!

Population 3.3 million
GDP 18.6 billion (2008)
GDP Per capita 5,500
GDP Composition by sector Services 80,
Industry 14, Agriculture 6

4
Panamas Advantages

Dollarized economy, simplifies business planning,
no currency risk.
Large local banking sector, finance credit
availability.
Finest intermodal transport capability in the
region.
Ports on Atlantic and Pacific Oceans.
Stable economic and political environment.
Major regional logistics center with direct air
routes throughout Latin America.
Strong preferences for U.S. made products and
services.
Bilingual and well educated workforce.
High level of personal security.

5
Panamas Principal Trading Partners - 2008
Total Country Imports 9 billion
U.S. Share of Panama Imports 40
Other trading partners Europe, Japan, Mexico
and South America
Bilateral Trade U.S. / Panama 4.4 billion
U.S. Export to Panama 3.6 billion (1 billion
going to the Colon Free Zone)

Import Sectors
Automotive
Telecom
Construction

Consumer Goods
Computers
Energy

Apparel
Air Conditioning
Pharmaceuticals

6
TRADE PROMOTION AGREEMENTU.S. Panama
7
The Panama CanalEighth Wonder of the World

Over US 250 million in annual procurement
opportunities.
A 5.25 billion Canal expansion project is under
way to construct much larger and deeper Canal
locks to allow transit of Post Panamax vessels.
Three prequalified consortia submitted bids to
construct the new locks (1 U.S.-led, 2
Spain-led).
Contact www.pancanal.com

8
Panama Canal Expansion Project
Widening and Deepening of Atlantic Entrance
Atlantic Locks and Access Channel
Raise Gatun Lake Level
Gatun Lake Widening and Deepening
Gaillard Cut Widening and Deepening
Pacific Locks and Access Channels
Widening and Deepening of Pacific Entrance
9
The Colon Free Trade Zone Worlds second
largest19 Billion in Trade (2008)

Founded in 1947 with 50 hectares in the Atlantic
deep water port of Colon, now the Worlds Second
Largest (FTZ) encompassing
Over 500 hectares, 1,800 companies and employing
over 24,000 people.

Advantages of doing business in the Zone

Central point for worldwide re-distribution
Central marketing structure to promote sales
Credit facilities to finance re-exports
Dollar transactions
Established channels of distribution
Duty Free treatment of In Bond goods
Contact them at www.colonfreezone.com

10
Panamas Opportunities
Energy
Technology Hub Panama is a crossroads for global
fiber optic cables

Electrical generation - 1 billion

Logistic Services

Panama Canal - 5.25 billion
Ports on Atlantic Pacific 500 million
Howard Special Zone
Colon Free Zone
City of Knowledge

11
Best Prospect for U.S. Exports - 2009
1. Wholesaling Warehousing 2. Building
Products 3. Travel Tourism 4.
Telecommunications Equipment 5. Computer
Peripherals 6. Construction Equipment 7.
Air Conditioning and Refrigeration Equipment 8.
Electrical Power Systems 9. Security Safety
Equipment 10. Materials Handling Machinery
12
Our Services