Cayman Chamber Of Commerce To Lead Trade Mission To Panama

by Mike Godfrey, Tax-News.com, Washington

24 January 2006

The Cayman Islands Chamber of Commerce is organising a special trade mission to Panama in March 2006 to explore and establish trade, business, shipping and investment links between the two countries.

During the trade mission, which is being sponsored by the telecommunications firm Cable & Wireless, local business leaders will meet wholesalers, suppliers and merchants. Organisers are planning a visit to the Colon Free Trade Zone, the largest of its kind in the Western Hemisphere, and special meetings with Panamanian Government and Chamber of Commerce officials. A business orientation session will also help educate local delegates about conducting business in Panama.

“This initiative to establish more international trading partners and trade routes is to be applauded, and will benefit businesses and ultimately consumers in the Cayman Islands” commented Tim Adam, Chief Executive of Cable & Wireless Cayman Islands, “and what benefits our customers ultimately will be of benefit to us – so our support of the Caymanian delegation to Panama makes perfect sense.”

Panama is one of the fastest growing economies in Central America, and exports billions of dollars worth of quality products and services to the Caribbean, South and Central America markets annually. Many of these products can be obtained at significantly lower prices than are offered in other markets in the United States and elsewhere in the region.

“We are particularly pleased to encourage association with Panama, as C&W Panama is a very strong part of our presence in this part of the world," continued Mr Adam.

"Members of our businesses throughout the Caribbean frequently visit Panama to exchange ideas and best practices. It is exciting to see this trend potentially expanding into other lines of business for Cayman,” he added.

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