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Doing Business in Panama (Canal)

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Syllabus of the Subject: Foreign Trade and Business in Panama. Panama Canal

  1. Introduction to the Republic of Panama (Central America);
  2. Panamanian Economy;
  3. Doing Business in Panama City;
  4. International Trade of Panama;
  5. Panama Canal;
  6. Cases study:
    1. City of Knowledge;
    2. Colon Free Zone;
    3. Set-up a Company in Panama.
  7. Clusters of Investment:
    1. Services;
    2. Tourism;
    3. Logistics;
    4. Information Technologies;
    5. Energy;
    6. Agribusiness.
  8. Investing in Panama
    1. Legal Framework for foreign investment (FDI) in Panama;
    2. Foreign Companies in Panama.
  9. Access to the Panamanian Market;
  10. Business Plan for Panama.

The purposes of the subject “Foreign Trade and Business in the Republic of Panama” are the following:

  1. To analyze the Panamanian Economy and Global Trade;
  2. To know the business opportunities in the Republic of Panama;
  3. To explore the Panamanian trade relations with the country of the student;
  4. To know the Panamanian Trade Agreements;
  5. To understand the role of the Panama Canal and the Colon Free Zone;
  6. To develop a business plan for the Panamanian Market.

Global Trade and Business in Panama
Colon Free Zone (Panama, Course)

Online Continuing education (Courses, Certificates, Diplomas

The Subject “Foreign Trade and Business in Panama” belongs to the following Online Programs taught by EENI Global Business School:

Masters: International Business, Foreign Trade.

Masters in International Business and Foreign Trade (MIB) - Online Education

Doctorate: American Business, World Trade.

Professional Doctorate in International Business (DIB). Online Education

Languages: Courses, Masters, Doctorate in International Business and Foreign Trade in English or Study Master Doctorate in International Business in Spanish Panamá Study, Course Master Doctorate in International Business in French Panama Masters Foreign Trade in Portuguese Panamá.

  1. Credits of the subject “Foreign Trade and Business in Panama”: 1 ECTS Credits;
  2. Duration: one week.

Online Education (Courses, Masters, Doctorate): Trade and Business in Central America

International Trade and Business in Panama.

Market Access - Free Trade Agreements. Online Education (Courses, Masters, Doctorate)

  1. Panama and the Latin American Economic Area;
  2. Central American Integration System (SICA)
    1. Central American Common Market - Integrated with the SICA -.
  3. Association of Caribbean States (ACS);
  4. SELA;
  5. Mesoamerica Project;
  6. Panama has Free Trade Agreements with the European Union, Andean Community, and the European Free Trade Association (EFTA);
  7. Panama-Costa Rica Free Trade Agreement;
  8. Singapore-Panama Free Trade Agreement;
  9. U.S.-Panama Free Trade Agreement;
  10. Canada-Panama Free Trade Agreement;
  11. Panama-Taiwan Free Trade Agreement;
  12. Panama-Chile Free Trade Agreement;
  13. Central America (Costa Rica, El Salvador, Honduras, Nicaragua)-Panama Free Trade Agreement;
  14. Panama-Dominican Republic Partial Scope Agreement;
  15. Mexico-Panama Free Trade Agreement;
  16. South Korea-Central America (Costa Rica, El Salvador, Honduras, Nicaragua, Panama) Free Trade Agreement;
  17. Panama-Guatemala Free Trade Agreement;
  18. Panama-Honduras Free Trade Agreement;
  19. Panama-Nicaragua Free Trade Agreement;
  20. Panama-El Salvador Free Trade Agreement;
  21. UK-Central America Free Trade and Economic Integration Agreement;
  22. ALADI (observer country);
  23. UNASUR (observer country).

Central American Integration System (Belize, Costa Rica, El Salvador, Guatemala, Honduras, Nicaragua, and Panama)

Trade Facilitation Programs. TFA Agreement. Online Education (Courses, Masters, Doctorate)

  1. WTO
    1. Agreement on Trade in Services (GATS);
    2. Agreement on the Application of Sanitary Measures;
    3. Agreement on Technical Barriers to Trade;
    4. Agreement on Preshipment Inspection;
    5. Agreement on Safeguards;
    6. Trade Facilitation Agreement.
  2. WCO
    1. Revised Kyoto Convention.
  3. Hamburg Rules (Sea);
  4. International Bureau of Containers and Intermodal Transport (BIC);
  5. Chicago Convention (ICAO);
  6. International Maritime Organization (IMO)
    1. Istanbul Convention - not a member.
  7. Customs Convention on Containers - not a member.

Central American Common Market: Guatemala, El Salvador, Honduras, Nicaragua, and Costa Rica

Online Education (Courses, Masters, Doctorate): Latin American Economic Integration

American Trade and Economic Organizations:

  1. Inter-American Development Bank;
  2. OAS;
  3. ECLAC;
  4. East Asia-Latin America Cooperation;
  5. CELAC
    1. EU-CELAC Summit.

Online Education (Courses, Masters, Doctorate): Globalization and International Organizations

Global Economic Organizations:

  1. UN
    1. UNCTAD;
    2. ITC;
    3. WIPO.
  2. WB;
  3. IMF.

International Trade and Business in Panama

The Republic of Panama (America):

  1. Capital of Panama: Panama City;
  2. Panamanian Population: 4 million people;
  3. Panamanian Area: 75,517 km²;
  4. Borders of Panama: Costa Rica and Colombia;
  5. Panamanian official language: Spanish;
  6. Panama became independent from Spain in 1821;
  7. Abolition of Slavery in Panama: 1824;
  8. African Diaspora in Panama: 0.4 million people (14% of the Panamanian population).

Main religion in Panama: Christianity - Catholicism (3 million) and Protestants.

Panama belongs to the Western Civilization - Latin American Economic Area.

Online Education (Courses, Masters, Doctorate): Christianity and Global Business (Catholicism, Protestantism)

Panama City Business

Panamanian Economy.

  1. The main pillars of the Panamanian economy are the Panama Canal, banking, and financial services and Colon Free Trade Zone (the largest duty-free zone in the Americas);
  2. The Balboa and U.S. Dollar (USD) are the official currencies of Panama;
  3. Panama has no central Bank; it does not have a devaluation risk, having total freedom to transfer capitals;
  4. The International Banking centre of Panama, with more than seventy international banks, is governed by the Basel Convention principles;
  5. The City of Knowledge is an international complex for education, R & D, organized to promote and facilitate the synergy between universities, scientific research centers, and international Organizations;
  6. In the Republic of Panama, they were installed five submarine fiber optic cables communicating North America and South America and the Caribbean with the world, making it the ideal location for telecommunications companies and data centers. Leading companies (MCI, Cable & Wireless and Movistar) have been implemented in Panama;
  7. The Republic of Panama has been selected by largest multinational companies such as Samsung Electronics, Inc., DHL, DELL (Call centre), Hutchinson Port Holding Group, HSBC, BICSA, Scotiabank, Assicurazioni Generali, or American Life Insurance Company as headquarters for their regional operations;
  8. The main international Organizations such as UNICEF, United Nations Development Programme, Organization of American States, Spanish International Cooperation Agency (AECI) and Bladex, among others, have chosen Panama to establish their regional headquarters.

European Free Trade Association (EFTA)-Central America (Guatemala, Honduras, Costa Rica, Panama, El Salvador, Nicaragua) Free Trade Agreement (FTA)

Foreign Trade (Importing, Exporting) Online Education (Courses, Masters, Doctorate)

International Trade of Panama.

  1. The Colon Free Zone is the second largest duty-free Trade Zone in the World (2,500 enterprises, 27,347 employments, 16,160 million dollars in imports and re-exports (international trade);
  2. Panamanian exports: 821 million dollars;
  3. The main Panamanian export products are salmon, tuna, beef, watermelon, shrimp, and pineapples;
  4. Top export partners of Panama (as% of total export value) are the United States 42% and Taiwan 5.3%, Costa Rica 7.3%, Sweden 5.4%, the Netherlands 6.5%, and Spain 6.2%;
  5. Top import partners of Panama: the United States 29%, Costa Rica 5.2%, Mexico 4.5%, China 4.2%, and Japan 3.6%.

European Union-Central America (Guatemala, Honduras, Costa Rica, Panama, El Salvador, Nicaragua) Free Trade Agreement (FTA)

Panama Canal.

  1. The Republic of Panama has a privileged geostrategic position that makes it one of the largest logistics centers in the World; with the Panama Canal as a major axis, the Panama Canal over 190 million metric tones of cargo (container, Bulk) are transported, serving more than 120 Maritime routes to eighty countries;
  2. 80 kilometers between the Pacific and Atlantic Oceans, 8 to 10 hours to transit;
  3. 14,000 ships pass through the Panama Canal every year;
  4. International transportation activities through the Panama Canal representing 5% of global International Trade;
  5. Foreign trade increase, especially between Asia and the U.S., continues to have a significant impact on demand for services;
  6. The Panama Canal seeks to increase both the number of Panamax transits and the UMS tonnage (Tonnage System Channel);
  7. The Expansion project of the Panama Canal (1 billion dollars) offers significant business opportunities for companies around the world.

Panama-Canada Free Trade Agreement

Central America (Guatemala, Honduras, Costa Rica, Panama, El Salvador, Nicaragua)-Panama Free Trade Agreement (FTA)

Taiwan-Panama Free Trade Agreement

Mesoamerica Project (Mexico, Belize, Colombia, Costa Rica, Guatemala)

Panama-Singapore Free Trade Agreement (FTA)

United States-Panama Free Trade Agreement (FTA)

Panama-Andean Community Agreement

(c) EENI Global Business School (1995-2023)
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