Indian Companies Can Leverage Panama as a Regional Business Hub, Says Ambassador

Mumbai, August 27: Indian companies can utilize Panama not just as an export destination, but as a regional business hub for various South American markets. This statement was made by Alonso Correa Miguel, the Ambassador of Panama in India.

During a high-level discussion at the MVIRDC World Trade Centre in Mumbai, Miguel stated that Panama could serve as a strategic gateway for Indian companies looking to expand their presence in Latin America, the Caribbean, and across the Americas.

He emphasized, “Panama’s strategic geographic location, the Panama Canal, a robust maritime and logistics ecosystem, special economic zones, and the Colon Free Trade Zone offer significant opportunities for regional distribution, warehousing, manufacturing, and commercial operations for Indian companies.”

Particularly, there are opportunities for establishing regional headquarters and distribution centers for companies in pharmaceuticals, chemicals, automobiles, motorcycles, engineering, consumer products, and technology.

The ambassador noted, “Panama can assist businesses in overcoming challenges associated with entering various South American markets, including logistics, local regulations, distribution networks, and market-specific business practices.”

According to Dr. Vijay Kalantari, Chairman of the MVIRDC World Trade Centre Mumbai and President of the All India Association of Industries, trade between the two countries currently stands at approximately $600 million. With strong B2B links, improved market insights, and collaboration in high-potential sectors, there is a significant possibility of doubling this figure to over $1.2 billion in the next two years.

He added, “Panama’s strategic position and connectivity with the United States can provide Indian companies with an effective platform for regional expansion.”

Roberto Rodriguez Prada, the Consul General of Panama in Mumbai, remarked, “There are ample opportunities to strengthen direct connections between Indian and Panamanian businesses, especially in pharmaceuticals, chemicals, and manufacturing. This includes opportunities ranging from warehousing and distribution to assembly, testing, finishing, and manufacturing under Panama’s special economic regime.”