Panama and the United States agree reciprocity on issues such as: renewable sources and investment

Posted on 2018-08-18

Panama and the United States agreed to encourage and promote energy cooperation, in the framework of the visit of the Undersecretary of the Department of the Treasury, David Malpass, with his team. 

The sectors to be promoted by both nations are: renewable energy, energy efficiency, energy storage, distribution, transmission, as well as investment in infrastructure.

In a ceremony held in the Presidential Palace, the Minister of the Presidency in Charge, Salvador Sánchez; the Minister of Economy and Finance, Gustavo Valderrama, and the Undersecretary of the Department of the Treasury, David Malpass, and the Undersecretary of Energy of the USA, Steven Winberg, signed a Memorandum of Understanding on cooperation in the energy sector, in the presence of the Secretary of Energy of Panama, Víctor Urrutia. 

Undersecretary of the Department of the Treasury, David Malpass, said that "this memorandum is the basis of a solid set of initiatives designed in collaboration with the governments of the United States and Panama, and is the result of extensive discussions throughout this year. "

For his part, the Secretary of Energy, Victor Urrutia, stressed that "Panama has a route that is oriented to achieve that the generation of its energy is increasingly clean and through renewable sources to reduce the emission of polluting gases." 

He added that it will be a cooperation based on the successful experience of the United States in energy matters.

The document is the first step to develop a Technical Cooperation initiative designed to strengthen and promote investment in infrastructure related to the energy sector in our country, which will be implemented through a working group made up of a technical team from the National Secretariat of Energy, of the Ministry of Economy and Finance of Panama, of the Department of Energy and of the Department of the Treasury of the United States of America.

Source: AFP