Economic Development

Trade Route Between Panama and Cuba Predicted

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The Minister of Trade and Industries of Panama, Meliton Arrocha, stated today that the Colon Free Trade Zone could be the logistic wing for the redistribution of Cuban goods towards the rest of the hemisphere.

Interviewed by Prensa Latina, on the occasion of his visit to the International Trade Exhibition Expocomer 2015 taking place in this capital, the minister said the upcoming Summit of the Americas will provide a framework to implement trade projects in many spheres.

The Panamanian nation observes with interest and enthusiasm everything that is generated in Cuba on direct foreign investment, and the recently adopted legislation regulating this activity, he noted.

He said Havana has a large number of quality export products such as rums, cigars and some areas in the sector of medicine, which are of interest to Panama, of course using the Colon Free Trade Zone as a logistic center.

About possible ties between the Panama Canal Zone and the Mariel Special Development Zone, Arrocha stated that all manufacturing to move by that Cuban port to the western United States will have a special attention for this interoceanic waterway in the future.

He stated that due to the historic and economic ties, and reciprocal interest based on a scheme of mutual respect policy, the future of both countries will remains linked.

Official data reveal that Cuba’s sales to Panama last year surpassed $100 million USD, so Arrocha described as booming and vibrant the trade exchange between the two countries.”

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