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Panama is enjoying “excellent” relations with Cuba according Panama’s ambassador to Cuba, Luis Gomez, as quoted on Mathaba.net news, November 5, 2008. Gomez noted agreements have been signed between Panama and Cuba covering medicine, education, energy, sports, and science. Also, trade talks are in progress.

At a celebration of Panama’s 105th year of independence Ambassador Gomez noted Panama’s friendly relations with Cuba. Panama has students studying in Cuba and Panama helped with reconstruction efforts after hurricanes Gustav and Ike caused much damage on the island nation. Gomez also inaugurated Panama’s pavilion at Cuba’s International Trade Fair.

Panama Business, Investment, and Foreign Relations

Panama has friendly relations with the United States and Panama has friendly relations with Cuba despite the problems that the US and Cuba have. Panama is a world crossroads for trade and, as such, makes it a point to deal in a business like manner with everyone. Panama tends not to get into diplomatic shouting matches with other countries. Panama’s strong international banking district is not the only Panama feature that calls to mind comparisons with neutral Switzerland.

Panama has had and kept relations with Cuba for many years despite US trade embargos and marines at Guantanamo Bay. Panama does business with everyone and tries not to make enemies. In the last few years as the United States has made enemies Panama has continued to make friends and trading partners.

Panama Trade, Business, and Investment

Currently Panama is negotiating a free trade agreement with Canada and a signed free trade agreement with the United States is awaiting US senate approval. In each case Panama expects to see cheaper imports as well as expanded markets for Panamanian products. A free trade agreement with Cuba would further expand Panama’s markets and, given Panama’s position at the junction of two oceans and two continents give Panama’s Colon Free Zone more products to sell throughout Latin America.

Business is booming in Panama. Despite the world economic crisis Panama expects to see a 9% growth of its economy in 2008. A recent change in Panama’s credit laws has made confirmation of creditworthiness easier and thus made credit easier to get for Panama’s small business community. Panama’s banks are pretty conservative and thus are not paying the price for a lot of bad loans like banks are in the USA. Even if world trade drops off it is cheaper to ship through the Panama Canal than around the tip of South America so trade will continue to pass through the Panama Canal.

Panama may well be one of the best places in the world to sit out the coming worldwide recession. Panama may well be the place for investment while other economies struggle.

Panama commercial real estate has done well for years. With Panama’s solid banking, thriving small business community and expanding foreign trade there is a continuing and growing need for retail, office, and warehouse space. There are pros and cons to going into business in a foreign country. However, with the advice of local pros like ABPanama, a targeted commercial real estate investment can provide substantial returns for years to come. ABPanama will watch the value of your commercial real estate investment and advise as to whether you should keep receiving your rent checks or sell at a substantial profit as Panama real estate investments appreciate over the years.

Panama has good relations with Cuba and other countries because Panama is neutral politically and Panama is about business and real estate investment and prosperity, especially in times of international financial chaos.