The Minister of Commerce and Industries of Panama, Julio Moltó, during the inauguration of the new board of directors of the American Chamber of Commerce and Industries of Panama (Amcham), stressed that Panama continues to make efforts to consolidate its commercial and investment relationship with the United States (USA).

Moltó highlighted that the US continues to be Panama’s main trading partner, representing the main destination for Panamanian exports, with products such as fresh fish, melons, coffee and sugar, among others.

“There are about a hundred American companies established in Panama, and each one has a fundamental impact on our economy, not only for the volume of investment, but also for the generation of jobs, the promotion of new capacities and the promotion of innovation,” the minister stressed.

In 2024, Panamanian exports to the United States totaled US$184.5 million, in addition, the country is the main source of Foreign Direct Investment (FDI), with an estimated US$13 billion in 2023.

He assured that the bilateral relationship has been strengthened thanks to initiatives such as the Multinational Companies Headquarters Regime (SEM), one of the seven special regimes promoted by the MICI to attract investment and generate employment.

This regime has allowed the arrival of 180 companies in total, of which 34 are American, with an initial investment of more than US$276 million, so this regime has been key for the development of key sectors in Panama, such as technology, manufacturing and energy.

The minister reaffirmed his commitment to continue encouraging the arrival of new investments, providing support to established companies and collaborating closely with AMCHAM, an organization that is about to celebrate 46 years of presence in the country, in order to ensure the continued success of the bilateral relationship.