Panama and Israel Sign Commercial Trade Agreement
Panama City and Jerusalem signed a mutual trade agreement today to boost financial and commercial cooperation.
Panama and Israel agreed to launch various joint ventures in fields like water management, renewable energy, agriculture, homeland security, telecommunications and medical equipment.
Binyamin Ben-Eliezer, Israel’s Industry, Trade and Labor Minister, hopes that Panama will serve as Israel’s gateway to trade opportunities with Latin America.
A Panamanian business delegation will be visiting Israel in May.
“We hope that following this visit, Israeli companies would be able to take part in Panama-based projects, including the Panama Canal Expansion Project and other water and agro-based ventures,” said Boaz Hirsch, Director of the Industry, Trade and Labor Ministry’s Foreign Trade Administration.
Israel’s trade with Panama came to $23.7 million in 2009, with exports reaching $18.7, up 12 percent from 2008, and imports reaching $5.05 million, up 15 percent from 2008. Main exports to Panama in 2009 were diamonds (30%), electronics (30%), plastics (7%) and chemicals (6%). Main imports from Panama were pearls (56%), chemicals (24%) and vehicles (6%).
Good to see Panama is importing more chemicals then they’re exporting.
Is Israel going to hook-up some modern weaponry? 9mm’s are getting a bit passe.