Ambassador Sumit Seth of India met with General Manager Giovanni Ferrari of the Colón Free Trade Zone (CFZ) in Panama City on Tuesday to discuss ways to strengthen trade and investment ties between the two countries according to a tweet from the Embassy of India in Panama.
The meeting focused on Panama’s strengths as a regional logistics and business hub, the advantages of the CFZ, and the incentives that Panama offers to attract Indian companies.
Ambassador Seth noted that Panama is a strategic partner for India in the Americas. He said that Panama’s location at the crossroads of the Americas, its well-developed infrastructure, and its open and welcoming business environment make it an ideal destination for Indian investment.
General Manager Ferrari highlighted the CFZ’s advantages, including its tax-free status, its proximity to the Panama Canal, and its access to a large and growing market in Latin America and the Caribbean. He stated that the CFZ is home to over 2,500 companies from around the world and that it is actively seeking to attract more Indian companies.
The two sides agreed to work together to promote trade and investment between India and Panama. They also agreed to hold a joint trade and investment forum in the near future.
This meeting is a significant step forward in the development of the India-Panama relationship. It is clear that both countries are committed to strengthening their ties and to working together to promote economic growth and prosperity.
In addition to the topics mentioned in the tweet, the two sides also discussed the possibility of cooperation in the areas of renewable energy, healthcare, and education. They agreed to continue their discussions and explore ways to further strengthen their partnership.