Panama Seeks to Negotiate Investment Protection Agreement with Cuba

HAVANA, Cuba, Sep 11 (acn) In search of greater economic complement with Cuba in key issues such as attracting foreign capital, Panama expressed interest in negotiating an agreement on investment protection with the Caribbean nation.

This was confirmed on Friday by Meliton Arrocha, Minister of Commerce and Industry of Panama, in statements to ACN minutes before the beginning of a bilateral business forum held in Havana, on the occasion of the official visit of Panamanian President Juan Carlos Varela.
This agreement, if becoming a reality, would "serve as a catalyst so greater flows of investment, not only from Panama but from the entire region, find in Cuba an open and secure door to do business," explained the Minister.
Also contributing to that strengthening of economic relations both countries pursue is the Partial Scope Agreement (AAP), the expansion of which Panama adopted in recent days to include new products in the trade balance, Arrocha said.
He announced that today Cuban authorities confirmed the conclusion of the legislative process corresponding to the island, in order to be able to expand the AAP, which establishes tariff preferences so the goods of both nations increase presence in their markets.
In order to deepen ties in the region, he said they will continue exploring opportunities in complementing auxiliary maritime services, and in the emerging industry being born in Mariel.