Panama identified as strategic business gateway for Indian firms

Panama's Ambassador to India, Alonso Correa Miguel, has identified Panama as a strategic regional business platform for Indian companies aiming to expand into Latin America, the Caribbean, and the wider Americas. During an interaction at the MVIRDC World Trade Center Mumbai, Miguel highlighted that Panama’s geographical location, the Panama Canal, and its logistics ecosystem—including special economic zones and the Colón Free Trade Zone—offer significant opportunities for manufacturing, warehousing, and commercial operations.

Key sectors identified for potential expansion include pharmaceuticals, chemicals, automobiles, engineering, consumer products, and technology. Panama can assist Indian firms in navigating regional challenges such as local regulations, distribution networks, and market-specific business practices.

Bilateral merchandise trade between India and Panama currently stands at approximately $600 million. Industry leaders suggest there is potential to increase this figure to over $1.2 billion within the next two years through enhanced B2B engagement and cooperation in high-potential sectors.