Panama willing to help Vietnamese goods enter Latin America

Speaking at a meeting with the Vietnamese business community in Hanoi on October 26, Panamanian President Ricardo Alberto Martinelli Berrocal said the project to expand the Panama Canal will allow marine vessels to transport goods to the region.

He said that by 2014, Panama will also have the largest airport in Latin America, creating the best possible conditions for foreign businesses to operate in the country.

President Berrocal voiced confidence in the potential for the canal expansions and new airport to facilitate a surge of Vietnamese and Panamanian enterprise activity in each other’s countries.

According to Vu Tien Loc, President of the Vietnam Chamber of Commerce and Industry,  two-way trade between Vietnam and Panama increased sharply from US$50 million in 2001 to US$245 million in 2011. Vietnam currently enjoys a trade surplus in the relationship.

Both countries now have great opportunities for cooperation in marine transport, agriculture, and traditional medicine, Loc said.