Prime Minister Kamla Persad-Bissessar on Monday witnessed the signing of a Memorandum of Agreement (MOU) between Trinidad & Tobago and Panama that will facilitate mutually beneficial trade between the two countries. It also establishes cooperation in the Energy Sector.
Persad-Bissessar is on a two-day state visit to Panama that included talks on trade. She is accompanied by Foreign and communications Minister Suruj Rambachan, Energy Minister Kevin Ramnarine, Trade Minister Stephen Cadiz and Trade Ambassador Mervyn Assam.
The delegation is seeking to explore opportunities to tap into the lucrative Latin American market. Trinidad and Tobago’s strategic location is a natural asset in expanding trade with South America.
Panamanian Foreign Affairs Minister Roberto Henriquez, along with Trade Minister Francisco Alvarez De Soto met with the T&T delegation and stated that Panama is eager to strengthen ties between Caricom’s oil and industry powerhouse.
Panama has seen steady growth over the past five years, despite the global economic downturn.
This MOU will see propane, butane, bitumen, natural gas, cement, ceramic tiles, clay tiles, steel products and other goods manufactured in Trinidad & Tobago being exported to Panama with preferential tariff arrangements.
The delegations also initialled a Partial Scope Trade Agreement which has been under negotiation for more than six months. Rambachan signed on behalf of the Government; Panama's Vice Minister and Chief Trade Negotiator, Diana Salazar, represented her government.
The T&T delegation also met with President Ricardo Alberto Martinelli Berrocal at the presidential palace for a luncheon and continued discussion.
The day concluded with a visit to the Chamber of Commerce, Industries and Agriculture where the Prime Minister extended an invitation to the members to attend the CIF and TIC.
Persad-Bissessar is on a two-day state visit to Panama that included talks on trade. She is accompanied by Foreign and communications Minister Suruj Rambachan, Energy Minister Kevin Ramnarine, Trade Minister Stephen Cadiz and Trade Ambassador Mervyn Assam.
The delegation is seeking to explore opportunities to tap into the lucrative Latin American market. Trinidad and Tobago’s strategic location is a natural asset in expanding trade with South America.
Panamanian Foreign Affairs Minister Roberto Henriquez, along with Trade Minister Francisco Alvarez De Soto met with the T&T delegation and stated that Panama is eager to strengthen ties between Caricom’s oil and industry powerhouse.
Panama has seen steady growth over the past five years, despite the global economic downturn.
This MOU will see propane, butane, bitumen, natural gas, cement, ceramic tiles, clay tiles, steel products and other goods manufactured in Trinidad & Tobago being exported to Panama with preferential tariff arrangements.
The delegations also initialled a Partial Scope Trade Agreement which has been under negotiation for more than six months. Rambachan signed on behalf of the Government; Panama's Vice Minister and Chief Trade Negotiator, Diana Salazar, represented her government.
The T&T delegation also met with President Ricardo Alberto Martinelli Berrocal at the presidential palace for a luncheon and continued discussion.
The day concluded with a visit to the Chamber of Commerce, Industries and Agriculture where the Prime Minister extended an invitation to the members to attend the CIF and TIC.
Both sides publicly stated that the visit and the meetings have been extremely successful and will lead to beneficial outcomes for both countries.
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