India is considering the option of establishing a logistics hub in Panama for its companies as trade between the two nations approaches US$ 50 billion. The announcement was made by India’s External Affairs Minister, Dr. S Jaishankar, following his meeting with Panama’s President Nito Cortizo.
Image Source: Shutterstock
India is considering the option of establishing a logistics hub in Panama for its companies as trade between the two nations approaches US$ 50 billion. The announcement was made by India’s External Affairs Minister, Dr. S Jaishankar, following his meeting with Panama’s President Nito Cortizo and his counterpart Tewaney Mencomo.
President Cortizo and the Indian officials discussed forming an alliance with the Indian pharmaceutical industry to achieve effective, affordable, and quality medicines for the people of Panama during their meeting.
The minister, in a statement to the local media after his meeting with counterpart Janaina Tewaney Mencomo, highlighted the aim of strengthening bilateral ties between India and Panama. The discussions focused on trade, investment, and exploring the potential of opening a logistics hub for Indian firms in Panama.
The minister stated that his meeting with Minister Tewaney Mencomo also covered topics such as affordable healthcare and decentralized production of medicines, as well as potential cooperation in energy and renewable energy.
Both parties agreed that Panamanian delegations, both from the government and business sectors, will visit India later this year.
Stay ahead in the dynamic world of trade and commerce with India Business & Trade's weekly newsletter.