Miami-Dade County delegates meet with Panama chamber of commerce
My friend and fellow commercial real estate broker in Miami Ed Redlich visited Panama last month. He reported back on the implications of the Panama Canal Expansion and trade with the US that will impact Miami (especially if they ever ratify the frickin’ Free Trade Agreement!) One of the things that interests me the most and something that will impact business here in Chiriqui is the ability to ship some of our best produce to Miami.
Ed reported that several of the delegates of the trade mission that he was on already have business operations in both Miami and Panama. He noted that “It was especially exciting to learn about Panama’s commitment to several targeted industries including food production and agriculture; the transportation of such foods via the supply chain logistics and ultimately the exporting of such foods, produce, vegetables, fruits, coffee, seafood, meats, flowers and other perishables”.
As a follow up there was this article in the Miami Daily Business Review.
“Solid business conditions in international trade seem likely to persist in South Florida for the rest of the year and perhaps into 2012.
In Miami-Dade County, the state’s center of international trade, the value of imported and exported freight is showing steady growth.
The combined value of exports and imports at Miami International Airport and the Port of Miami grew to $20 billion in the first quarter, up 1.1 percent from the previous quarter.
Last year the comparable sums were $19.8 billion in the fourth quarter, $18.6 billion in the third quarter and $17.6 billion in the second quarter, the Miami-Dade Office of Economic Development & International Trade reported.
The annual dollar volume of imports and exports in the U.S. Customs and Border Protection district that encompasses Miami-Dade, Broward and Palm Beach counties could top $100 billion this year for the first time.
Commercial lender Anita Aedo is among the South Florida professionals whose companies plan to capitalize on increased trade.
“Mexico produces a lot of everything, so we have some very key customers in Mexico. That’s a market we focus on and plan to expand in,” said Aedo, managing director of ExpoCredit, a factoring firm in Miami that provides trade finance by purchasing receivables at a discount.
Economic growth in Latin America and the Caribbean is one of driving forces behind cargo traffic at South Florida airports and seaports. The United Nations’ Economic Commission for Latin America and the Caribbean, or ECLAC, forecast that region’s combined economic growth will be 4.7 percent in 2011 and 4.1 percent in 2012.
“From the Florida perspective, we’re seeing an excellent export environment,” said Manny Mencia, senior vice president, international trade and business development, at statewide economic development agency Enterprise Florida. “You have a weak dollar combined with high demand and high growth in traditional markets in the Western Hemisphere.”
But economic weak spots in the Western Hemisphere could slow the pace of trade. Higher prices for oil, copper and other commodities have benefited most South American countries, ECLAC reported, but in Central America and most Caribbean countries, “the opposite effect is observed because of their position as net importers of commodities.”
About the Author
I live in the cool (62 at night 75 at day) mountain region of Boquete, Chiriqui Provence, one hour and a half from Boca Chica where I keep my sports fishing boat. I have lived here in Valle Escondido for three years and prior to that visited the area for three years. It is absolutely amazing how the economy has improved in the Provence. Where there were once old cars in disrepair, now new cars and pickups rule the road. One can find just about anything you want in David, the capitol of the Province.
It is wonderful to live in a place without the government’ s hands in your pocket. The residents here call Valle Escondido “Galt’s Gulch”. Flowers everywhere, beautiful birds coming to my feeder, and amazing hummers.
This country is open to business, run by businessmen, and our increase in Gross National Product proves it, while the US is failing due to progressive agenda.
I speak very little Spanish and get along with no problems. Boquete has many EX-PAT groups, and plenty of socialization. All I can say is that with the things that are happening in the US from bad government and bad business climate, if you can get here do so. While I own property in the states, I only visit during the holidays and mostly to vote. If you are a progressive, please stay in the US. We do not need your agenda here. Come and smell the roses.