Panama - Market OpportunitiesPanama-Market-Opportunities
Panama has no restrictions on the outflow of capital or outward direct investment. Its accession to the World Trade Organization in mid-1997 opened up trade and lowered tariffs across the board, giving Panama the lowest average tariff rate in Latin America. Panama’s recognition of the U.S. sanitary and phytosanitary system and the creation of a Food Safety Authority have essentially eliminated the previous arbitrary procedures for issuing permits for U.S. food products.
Consumer attitudes and many brand preferences are similar to those in the United States. Many U.S. television, radio, and magazines are popular and available in Panama. Middle and upper-income Panamanians frequently travel to the United States for vacation, medical treatment, study, and business, and their buying patterns and tastes are like those of U.S. consumers. U.S. goods and services enjoy a reputation for high quality and are highly competitive.
Best market opportunities in Panama include the following sectors: engineering services, hotel and restaurant equipment, medical equipment, cybersecurity, energy efficiency, and tourism.
Major ongoing infrastructure projects in 2019 include: the expansion of the Tocumen International Airport; the construction of lines two and three of the metro system; the urban renovation of the City of Colon; the construction of new water plants and sewage systems, the construction of a new container port on the Atlantic (delayed); the construction of two gas-fired dual cycle power plants, and fourth bridge over the Panama Canal waterway (on hold). U.S. companies face strong competition from state-owned Chinese companies that have won many the infrastructure projects in the past years. Panama established diplomatic relations with the People’s Republic of China in June of 2017. Prepared by our U.S. Embassies abroad. With its network of 108 offices across the United States and in more than 75 countries, the U.S. Commercial Service of the U.S. Department of Commerce utilizes its global presence and international marketing expertise to help U.S. companies sell their products and services worldwide. Locate the U.S. Commercial Service trade specialist in the U.S. nearest you by visiting http://export.gov/usoffices.
Consumer attitudes and many brand preferences are similar to those in the United States. Many U.S. television, radio, and magazines are popular and available in Panama. Middle and upper-income Panamanians frequently travel to the United States for vacation, medical treatment, study, and business, and their buying patterns and tastes are like those of U.S. consumers. U.S. goods and services enjoy a reputation for high quality and are highly competitive.
Best market opportunities in Panama include the following sectors: engineering services, hotel and restaurant equipment, medical equipment, cybersecurity, energy efficiency, and tourism.
Major ongoing infrastructure projects in 2019 include: the expansion of the Tocumen International Airport; the construction of lines two and three of the metro system; the urban renovation of the City of Colon; the construction of new water plants and sewage systems, the construction of a new container port on the Atlantic (delayed); the construction of two gas-fired dual cycle power plants, and fourth bridge over the Panama Canal waterway (on hold). U.S. companies face strong competition from state-owned Chinese companies that have won many the infrastructure projects in the past years. Panama established diplomatic relations with the People’s Republic of China in June of 2017. Prepared by our U.S. Embassies abroad. With its network of 108 offices across the United States and in more than 75 countries, the U.S. Commercial Service of the U.S. Department of Commerce utilizes its global presence and international marketing expertise to help U.S. companies sell their products and services worldwide. Locate the U.S. Commercial Service trade specialist in the U.S. nearest you by visiting http://export.gov/usoffices.