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Panama was the first country in Central America where India opened a Resident Mission. The significance of that historic occurrence is a point of reference in our 55 years of diplomatic ties, since 1962. The relationship has evolved smoothly and steadily. In the broad geopolitical context, it is important for Panama to have an Asian partner with global projection as important as India. Being India one of the fastest growing and emerging economies of the world, it is imperative for Panama to widen our political, economic, commercial and investment links. Indian businesses could benefit from their participation in Panama's hubservices economy. Over the past decade, Panama has been one of the fastest growing economies worldwide, leading the path in Latin America and the Caribbean. In the geostrategic realm, we welcome Indian partnerships in which both our countries could benefit from the vast potentialities and synergies of our economies.

-H.E. Dr. Gilberto Llerena Garcia, Ambassador of Panama to India



Recently, Panama signed the Multilateral Convention on Mutual Administrative Assistance in Tax Matters (OECD), a significant step forward in implementing its commitment to tax transparency and exchange of information in compliance with international standards and the safeguarding of Panama's international services platform. Bilaterally, Panama has signed 16 bilateral Tax Information Exchange Agreements (TIEAs) and avoidance of double taxation. In this policy context, the country has prepared a Government Strategic Plan (PEG) for 2015-2019, with a focus on enhancing competitiveness and promoting social inclusion in the framework of a sustainable and inclusive development model, alongside the UN Development Goals 2030. Lately, Panama also signed up the Paris Climate Agreement, an action consistent with its foreign policy agenda for sustainable growth and development.

-H.E. Dr. Gilberto Llerena Garcia, Ambassador of Panama to India



Panama has an enormous potential for investment and tourism opportunities, particularly given its geostrategic and historical position as a connection hub, including the new expanded Panama Canal and the international air hub transportation in the Americas. The growing demand in the tourism sector during the last 10 years has led to the Panama Tourism Authority to develop a Master Plan for Sustainable Tourism Development and the implementation of the International Tourism Promotion Campaign between 2016 and 2018, to promote the Isthmus in the international market. In this context,tourism is one of the main economic driving forces of the Panamanian economy and represents a growing attraction market for Indian and international investors wishing to capitalize in one of the fastest growing Latin American economies.

-H.E. Dr. Gilberto Llerena Garcia, Ambassador of Panama to India