Panama's Commerce and Tourism



On this the third day of our official visit to Panama, we are pleased to provide an account of our visits to the Ministry of Commerce and Industry and the Tourism Authority. We were warmly greeted in both government establishments by officials who were eager to share their expertise and also find out more about our country. We arrived at the former destination and were exposed to an overview of Panama’s Free Trade Agreements (FTAs). The speaker engaged us in questions that provided a more detailed account of the events involved in the implementation and policy of FTAs. After this presentation, another speaker offered insight on four (4) main aspects of Panama’s Strategic Plan outlined by the Government for the period 2009-2014. In the afternoon, we ventured to Panama Tourism Authority and were also greeted by a government official who was very eager to promote Panama as a tourist destination by thoroughly explaining its competitive advantages. The accounts written below describe the events of our day in more detail.

Some students sharing a photo with Ms. Jaen.

Our first meeting was facilitated by Ms. Lidia Lena Acosta Jaen,  a lawyer in the International Trade Agreements department. Ms. Jaen’s presentation focused mainly on an overview of Panama’s Free Trade Agreement.   We learned that Panama pursued a policy of liberalization and free trade to promote real integration amongst the world’s leading economies with the World Trade Organization in 1997.   

Panama’s first free trade agreement came about with El Salvador in 2003.  Since then, Panama has formed FTA’s with Taiwan in 2004 to facilitate trade in the fields of plastic processing and construction. Following this, the next trade agreement was formed with Chile, followed by Costa Rica. In 2009, trade agreements were formulated with Guatemala to facilitate trade for oysters and milk. Honduras was then pursued to trade cotton products and cocoa. Nicaragua established an FTA with Panama to create trade with the dairy industry and fruits and fruit juices. The next course of action for Panama is to finalize their Free Trade Agreement with that of the United States.

Following Ms. Jaen’s presentation, we were then given a presentation by Mr. Ricardo Barnett on the Strategic Plans of the Panamanian government for the period 2009 - 2014. Four major sectors were highlighted by Mr. Barnett, namely, 1) Tourism, 2) Logistics, 3) Finance and 4) Agri-Exports.  Mr. Barnett was proud to express that Panama has excelled in the area of Logistics.   Mr. Barnett made mention of the company that works in conjunction with the Ministry of Commerce and Industry, that is, ProInvest. They function as an entity that promotes export of goods from Panama to other countries, and the attraction of foreign investment within Panama.

Ms. Claxton presenting a token of appreciation to Mr. Barnett

We learned that one of the ways the Ministry of Commerce and Industry facilitates entrepreneurs was by making the Ministry into a ‘one stop shop’. In this way, producers can get all the necessary paper work needed to create exportation of goods done at one location. The Ministry also works in close relations with these producers by training them for meetings with potential buyers. This could be regarded as an example of how high the nationals of Panama regard their reputation on the global scale. This helps to create an image for the country that business conducted within Panama is done in a secure manner. To further articulate our tour, the group’s scenic view on the way to Panama’s Tourism Authority brought particular Industries into perspective such as monumental architectural high-rises which showed us, steps towards accommodating Tourism.

Panama Tourism Authority passionately expressed  their function and purpose to support the development of tourism in Panama. Their communication style  and hospitality helped the group realize how they practiced tourism etiquette. The presenter shared an insight into what maybe expressed as “Secrets to Success”. Panama has been tailoring packages to suit the specific needs of their target market by way of extensive market research. He later shared how Panama arrived at focusing on this Industry, where, their main focus on the Canal which decreased in revenue generation which lead to the development of other industries as a result. While creating an emphasis on tourism, Panama focused on areas such as Adventure, Eco-tourism and lately Events and Conferences . They use such target  groups to market Panama to countries . In striving to promote Panama as a destination that can also be a haven to investors they project the ease of doing business in addition to accessible diverse activities making it a complete getaway.

Showing some appreciation to our facilitators at the Ministry of Tourism.

From this experience today we gained a more thorough understanding of the opportunities that present themselves for Panama in leveraging their strong competitive advantages with respect to its trade policies, commerce and tourism. We are also more informed about the objectives established by the government for the country’s development. We are now able to draw comparisons between Panama and Trinidad and Tobago where trade, logistics, commerce, and tourism are concerned. We are truly grateful that we are able to experience what our country aspires to so that we can make erudite decisions regarding our short term deliverables for the program (a business plan and a research project) as well as beyond. In closing, we would like to sincerely thank UTT for strategically positioning us, as future entrepreneurs, at the epicenter of development in the Latin American and Caribbean region.

Welcome smiles from the presenters at the Ministry of Tourism.

By Marisa, Denizia and Chinyere.

Ministerio de Relaciones Exterioresmire

 

Panama’s Ministry of Foreign Affairs, located in San Felipe in Panama City, was the scene of our first official visit in this year’s study tour. On arrival at the Ministry, we were greeted by Mr. Francisco Marquez who gave the group an overview of Panama’s history.

The ministry is housed in a building rich in history; formerly a monastery and a Jesuit college, adjacent to the former Presidential Palace. Panama’s rich cultural history is reflected in its architecture and great care has been taken to preserve and protect the historic architecture of the country. We were introduced to the idealism of the Bolivarian Republics of which Panama is one. These are nations which were former states of Gran Colombia which were liberated by Simon Bolivar; save Trinidad and Tobago which was captured by the British before these liberation efforts. Although Simon Bolivar never set foot in Panama, he chose the nation to be the central hub for the Bolivarian Republics.

We were privileged to see the replica of the sword of Simon Bolivar. The history of the Bolivarian alliance was enumerated with such fervor and alacrity that we could not help but be moved by the presentation. The reverence for their leader as well as the alliance was evident during the visit. Panama became the seat of the alliance and still to this day maintains its strategic position as the meeting place of the ambassadors of the Alliance.

The Ministry of Foreign Affairs is responsible for the ensuring the strategic objectives of the Government of Panama. These objectives are: to defend Panamanian national interest; to comply with and enforce constitutional norms, international laws and treaties signed by the Republic of Panama; professionalizing and modernizing Panamanian Foreign Service in accordance with the requirements of the new international order. Panama’s mission is to design and implement a coherent foreign policy as an instrument to promote international openings and manage opportunities and partnerships for the effective development of the Panamanian people. The Ministry is able to successfully achieve this through their management of the relationships with other nations, by formulating and implementing foreign policy. The Ministry is therefore able to facilitate trade among other states in the Latin American region.

Panama has benefited greatly from the alliance of these nations and has fostered trade agreements with other countries regionally and globally. Amongst the team, comparisons were made to Panama’s successes in forming strategic links with their neighbouring countries and T&T’s efforts to forge and become the hub of regional alliances.

There is much that Trinidad and Tobago can learn from the Panamanian model of forging alliances based on historical and geographical similarities and developing these alliances into profitable trade relations. The exposure gained from this experience would therefore significantly aid in our country’s efforts to accomplish strategic alliances.

By: Curtis, Ronel and Joseph

La Llegada

A bird's eye view of Panama City's skyline implanted an impressive mark upon the minds of the twenty students of the IIEM programme whose destination was that of Latin America's "number one" country for business. Panama City was aglow in the evening sky and it was apparent that the country had been very successful in modernising and developing its urban landscape and attracting continued foreign investment and commercial activity.

The country of Panama is located on a narrow strip of land joining North and South America and has significant strategic value for trade among countries or cities. It is best known for the Canal which was opened in 1914 to connect the Atlantic and Pacific Oceans and to facilitate easier and more efficient transportation of goods and services among countries operating in the aforementioned spheres. Panama is also known for its strong service sector - primarily its financial sector, whose physical manifestation was observed in the form of numerous local and international banks which dotted the El Cangrejo area in the vicinity of our hotel - the Toscana Inn. After checking in we soon realized that Panama City was literally one that did not sleep. The city continued to bustle with acivity into the wee hours of the morning.

The IIEM academic staff worked feverishly to ensure that we all got to Panama and were provided with the opportunity to visit sites of interest. This study tour is of utmost importance because we can witness first hand, opportunities and the subsequent benefits that Trinidad and Tobago can gain from trade agreements with this country. Therefore it is of no surprise that we will be visiting the Ministry of Foreign Affairs, Ministry of Commerce and Industry, the Panama Tourism Authority, the National University of Panama, the Colon Free Zone and the Panama Canal.

On Sunday morning we divided ourselves into our designated groups and started working toward our various goals which centered on viewing various aspects of Panama such as Infrastructure and Logistics, taking into account physical, corporate and regulatory aspects. We supplied preliminary assertions as to how Panama leveraged its resources to get where it desires and how this has allowed them to be extremely competitive and successful in their attempts to fuel economic growth.

It was during our group discussions we realized the following have helped Panama to solidify their stance as the ideal place to conduct business in Latin America.

·         Panama benefits from its location and its Canal is recognised as one of the Wonders of the World.

·        Panama chose to focus very heavily on the services sector to reduce dependency on the Canal for revenue generation

This has resulted in a lot of foreign investment coming into Panama which means that there are actually policies and laws that assist or facilitate good, ethical and safe working relationships to sustain the developmental path that the country is on.

We look forward to our first official visit the Foreign Affairs Ministry on Monday to learn more about this exciting area and what it can mean for us and by extension our country.

By: Shantelle, Liz and Deidre

A tale of Two Suits.......

Boy One: Aye fellas. I packed alot to come down here!

Boy Two: Eh heh?...What you packed so?

Boy One: Clothes for this workshop nah!....Ent we had to bring business wear?

Boy Two: Yea, for real. I only have 1 suit though....so I guess I'll have to use that for the entire weekend.

Boy One: One suit?....hahahahahahahaha....You only brought one suit. Hmmm!....I brought 2 suits.

Boy Two: Weys!....

Boy One: Yes, my friend....I am prepared

Boy Two: Well, I brought 5 shirts....I'll just rotate my 1 suit with my 5 shirts.

Boy One: Well,I brought 5 T shirts and 1 shirt. I saw shirt on the instruction list and I brought mostly T shirts....and I decided I would only bring 1 shirt......I   smart eh!

Boy Two: Wait nah!....you brought 2 suits......and 1 shirt!......for the entire weekend!

To Be Continued......

Leadership at Teteron

Throughout my academic career I have never experienced anything like this. The learning experience gained from the Leadership and Human Resource Course organized and managed by Mrs. Judith Morrain-Webb, left an indelible impression on my entire being. The program was well orchestrated to capture all facets of leadership and what is necessary to lead effectively in any given situation. The program did not only focus on developing the intellectual capacity for leadership but impressed the need for spirituality and physical fitness.

Most leadership seminars I have attended in the past dealt primarily with the theory of leadership according to various scholars where the class would engage in lengthy discussions. After engaging in such discussions the theories would be applied to several case studies and the objective of the seminar would be met. However, the Leadership and Human Resource Course which formed part of the Master of Science in Industrial Innovation, Entrepreneurship & Management (Msc. IIEM) explored theories of leadership and allowed the students to be a case study themselves by way of an Action Based Leadership Workshop.

A strategy such as this was executed by Mrs. Morrain-Webb to provide students with the opportunity to integrate their study of leadership with personal leadership experiences. Everything that was learnt about effective leadership in class had to be actively replicated in the Action Based Leadership Workshop. It is this unique way of creating a fertile environment for developing leaders that set the stage for a life changing experience.

In the initial stages of the Leadership and Human Resource Course students were taken on a theoretical leadership journey through the century where we saw how the philosophy of leadership had changed and developed over time. The students were also exposed to numerous definitions of leadership where attempts were made to match the definition to a leader in history or presently in office. Many topics were covered in the class sessions and students were given an opportunity to participate in a reflective exercise which assisted in internalizing the material presented. This reflective exercise added immense value to me by helping to commit key learning points to memory

The Action Based Leadership Workshop actually made a significant difference in my understanding of what is leadership. The entire course force me to recognize the gap between what my leadership ability is at present and what I need to work on to improve.

Ish