Panama signed a memorandum of understanding with the South Korean Ministry of Land, Infrastructure and Transport on strategic collaboration in the development of key infrastructures in the country.

Representing Panama was Henry Faarup, secretary general of the Railway of Panama.

According to a statement from the Presidency, this agreement establishes bilateral cooperation focused on the exchange of railway policies, laws and standards with the aim of improving the railway sectors of both countries.

In addition, it seeks to strengthen Panama’s technological and logistical capabilities, taking advantage of South Korea’s extensive experience, with the purpose of consolidating the country as a strategic center of multinational operations in the region.

“Panama is at a crucial stage of its development. Projects such as our railway will not only connect regions within our country, but also open up new opportunities for trade, tourism and economic growth throughout Central America,” Faarup said.

Both Faarup and the Minister of Public Works, José Luis Andrade, are at the Global Conference on Infrastructure and Construction (GICC 2024), held in Seoul.

Panama offered a toast after the signing of the agreement and invited Korean companies to establish operations in the Isthmus, underlining the country’s role as a logistics and multinational hub that connects Asia with Latin America. “Panama is ready to welcome South Korea as a key partner in economic growth and the development of advanced infrastructure. We want to work closely with our international partners to bring the best technologies and practices to our country,” Faarup said.