Panama Business
• Main imports: Capital goods, crude oil, food, chemicals and consumer goods.
• Main exports: Bananas, fish, prawns, petroleum products and sugar.
• Main trade partners: Bermuda, Japan, Venezuela, China and USA.
Economy
Other important sources of revenue include the Colón Free Trade Zone established near the Canal, an ‘open' shipping registry and a rapidly growing tourist industry. Reforms during the 1990s saw the privatisation of many state enterprises, overhaul of tax and social security systems, and the removal of price controls and import tariffs. Annual growth in 2006 was 8.1%, while inflation was 1.1%. Unemployment was 8.8% in 2006.
Panama is a member of the Inter-American Development Bank. A free trade agreement with the USA was agreed in 2006.
Business Etiquette
Office hours: Mon-Fri 0800-1700.
Government office hours: Mon-Fri 0730-1630.
Conferences & Conventions
Business Contacts
Tel: (507) 207 3443.
Website: www.panacamara.com
Atlapa Convention Centre
Instituto Panameño de Turimo, Via Israel, San Francisco, Panama City, Panama
Tel (507) 226 7000.
Website: www.atlapa.gob.pa
Figali Convention Centre
Calzada de Amador, Proyecto Panama Canal Village, Panama City, Panama
Tel: (507) 314 1414.
Website: www.panamacanalvillage.com
Hotel El Panama
Via Espana 111, Panama City, Panama
Tel: (507) 215 9000.
Website: www.elpanama.com
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