Panama makes effort to lure RI business

Panama makes effort to lure RI business

JAKARTA: With its strategic location near the world-famous Panama
Canal, Panama, as a tax-free zone, is an attractive place for the
Indonesian businesspeople to do business, Panamanian Ambassador
to Indonesia Raul Antonio Eskildsen Arias said in Jakarta.

"Panama is a small country with just 3.2 million people. I
must admit it's not a big market but it's a service as well as
shipping hub. We are the gateway to the huge Latin American
market with 450 million people. Indonesians can export their
products to Latin America through Panama," Ambassador Raul said
at a breakfast meeting, which was mostly attended by local
businesspeople, in Jakarta.

In order to strengthen its economy, Panama is planning to
expand the Panama Canal at a cost of approximately US$6 billion
to $8 billion in the coming years.

Panama is the world's second largest tax-free zone after Hong
Kong. It has more than 100 banks as well as over 10,000
registered shipping vessels, which employ 6,000 Indonesian
seamen.

The President of the Chamber of Commerce of USA-Panama Ricardo
Eskildsen also spoke at the meeting.

Chilean Ambassador James Sinclair and the Taipei Economic and
Trade Office's representative David Lin were also present at the
meeting. -- JP