Panama and Mexico already have a Strategic Partnership Agreement that will boost trade between the two countries, after it has received the official binding approval of the Senate of the United Mexican States and published in the Mexican Gazette in March of this year.

The agreement, signed on July 23, 2021 in Mexico City, ratifies Panama’s role as a first-rate logistics platform, and that achieves new and greater markets for national products and businesses in the brother country, after the approval of this important agreement by the Mexican Senate.

The agreement aims to strengthen the bilateral relationship through the establishment of a strategic partnership in political, economic, social, cultural and cooperation between the parties, based on the principles of cooperation, solidarity and mutual benefit, and with full respect for the sovereignty and territorial integrity of both countries.

Among the first concrete results of this Strategic Partnership Agreement, the interest expressed by the National Bank for Foreign Trade (BANCOMEXT), Federal Development Bank of the Government of Mexico, stands out in offering complete lines of credit to Mexican and Panamanian investors who make investments in both nations.

This agreement is the result of one of the issues addressed by the president of Panama, Laurentino Cortizo Cohen with his counterpart Andrés Manuel López Obrador during the Official Visit to Mexico City in October 2019.

The agreement has already been approved by the National Assembly of the Republic of Panama and sanctioned by President Cortizo Cohen through Law 342 of November 21, 2022.