HAVANA: A bill has been submitted to the National Assembly by the Minister of Commerce and Industries of Panama Meliton Arrocha. According to official sources, the document aims to increase trade with the island and extend the terms of the Partial Agreement between Panama and Cuba, which since 2009 works as a legal framework for commercial and economic exchange between the parties.
Although at present the trade between the two countries amounted to 250 million dollars a year, the chances that the lifting of the US embargo against Cuba is realized, and the consequent removal of sanctions to foreign investors, and also the favorable willingness of the Cuban government to foreign investment, open a number of attractive business opportunities that Panama does not want to miss.
The conditions seem ideal for a qualitative and quantitative leap in transactions and economic ties with Cuba, the obstacles to materialize it seem to be close to being eliminated and the relationship between the two Latin American countries is in good health.
