Panama & Dubai: Logistics Hub

Posted on 2018-04-11

Panama and Dubai are integrated through their logistics hub to attract investment and business for both regions, the first being the gateway to Latin America and the second the gateway to the Middle East. The document was signed by the Minister of Commerce and Industries, Augusto Arosemena and the president of the Dubai Chamber of Commerce, Majid Saif al Ghurair, in the presence of the President of the Republic, Juan Carlos Varela, and the Crown Prince of Dubai, Hamdan Muhammad.

Minister Arosemena explained that with the signing of the memorandum a deeper commercial relationship between Panama and Dubai was initiated, promoting the development of commercial networks, investments and greater integration of the free zones and special regimes of both countries. Arosemena stressed that the Memorandum facilitates the export of Panamanian products to Dubai, the main gateway to the important market of the Middle East, especially due to its high purchasing power. He cited as a recent example of contacts of companies from the Chiriqui group Grupo Primero Cuarenta to Dubai using the Panama Exporta brand, which demonstrates the interest in our products.

"Panama and Dubai share economic similarities that lead to both countries, an important role as the main commercial centers of their respective regions, the economic integration of both hubs - Panama as the entrance to Latin America and Dubai as the entrance to Africa, India and the Middle East - is of great impact for the development of value chains and commercial exchange on a large scale, "said the Head of Commerce. The investment attraction of the United Arab Emirates to Panama is positive for our economy and generate sources of employment for the names of the names and a transfer of knowledge. As a commercial and financial center, Dubai concentrates large-scale transnational operations that can replicate complementary strategies and projects in Panama.

Source: AN Panama