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Issue #583 | Forest Products

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Forest Products

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2014 Media Kit
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Panama government to boost trade with Mercosur

By: | at 08:00 PM | Channel(s): International Trade  

The Panamanian government is seeking a closer relationship with the Common Market of the South (Mercosur) member countries in a bid to boost trade, government officials said.

The government was interested in attracting foreign investors to the sectors of energy, logistics and technology, local media quoted the officials as saying.

The nation had moved a few steps forward in the direction by importing buses and aircraft from Brazil, they said.

Panama is keenly interested in technology transfer, such as the technology for using ethanol as vehicle fuel, which would help the nation ease the economic crisis due to the skyrocketing costs of gasoline.

Recently, Panama launched a charm offensive in a bid to join other regional trade blocs, such as the Andean Community of Nations, which comprises Venezuela, Colombia, Peru, Ecuador and Bolivia, and the Group of Three, which groups Venezuela, Mexico and Colombia.

Mercosur, Latin America’s largest trading bloc, comprises Brazil, Argentina, Paraguay and Uruguay with Chile and Bolivia as associate members. (Xinhua News Agency)