Russia is ready to boost its cooperation with Panama in the economic and financial spheres, Russian President Vladimir Putin said on Thursday.

“Speaking in support of the intensification of relations with the Republic of Panama, together we are working on improving the legal framework. We are open for closer cooperation in the economic and financial agenda,” Putin said during a ceremony of receiving letters of credence from 15 new ambassadors to the country, including the one from Panama.

Moscow will continue assisting Panama city in training local staff, including law enforcement officers, the president added.