Israel, Panama Sign
Commercial Trade Agreement
PANAMA - Panama's Minister of Commerce
Roberto Henriquez Industry and Israel's
Trade and Labor Minister Binyamin Ben-Eliezer
singed a mutual trade agreement Monday,
aimed at boosting the financial and
commercial cooperation between Jerusalem and
Panama City.
Israel and Panama agreed to launch various
joint ventures in the fields of water
management, renewable energy, agriculture,
homeland security, telecommunications,
medical equipment etc.
Ben-Eliezer expressed his hope that the
agreement will see Israel's relations with
Panama evolve further, and that the Central
America nation will serve as Israel's
gateway to trade opportunities with Latin
America.
Henriquez noted that Panama's agriculture
minister would be visiting Israel in May, to
discuss water management and irrigation
solutions. Ben-Eliezer said he hoped Israel,
as a world leader in the fields, would be
able to assist Panama both in those areas
and with the Panama Canal Expansion Project,
which is ongoing.
Israel's trade with Panama came to $23.7
million in 2009, with exports reaching $18.7
(+12% from 2008) and imports reaching $5.05
million (+15.4%).
Israel's main exports to Panama in 2009 were
diamonds (30%), electronics (30%), plastics
(7%) and chemicals (6%). The country's main
imports from Panama were pearls (56%),
chemicals (24%) and vehicles (6%).
Henriquez is visiting Israel along with his
deputy, the science, technology and
innovation minister and a 10-man business
delegation. The Panamanian mission is set to
meet other high-ranking Israeli officials,
including Chief Scientist Dr. Eli Opper, as
well as visit the Israeli Diamond Exchange
and various high-tech companies and parks.
The missions will then attend a business
seminar, which will focus on business
opportunities for Israeli companies in
Panama.
Boaz Hirsch, director of the Industry, Trade
and Labor Ministry's Foreign Trade
Administration said the visit "will afford
the Panamanian delegation an excellent
chance to get to know the Israeli industry,
its technological fortes and unique human
capital. We hope that following this visit,
Israeli companies would be able to take part
in Panama-based projects, including the
Panama Canal Expansion Project and other
water and agro-based ventures."
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