The business association of the American city has established an office in Panama City in order to explore business opportunities with local businesses and the region.
Tuesday, May 26, 2015
The organization has over 3,600 members ranging from small and medium sized companies to those with an international presence. This is the second site the union has in Latin America, as it has presence in Mexico.
Its president, Reggie Gray, "... explained that the main reason for the opening of this office in Panama by Houston Intercontinental Chamber of Commerce is closely linked to the excellent relationship and strategic alliance between the Port of Houston and the Panama Canal Authority (ACP), which will increase with the expanded Canal.
Capital.com.pa reports that "...The president of the Houston Intercontinental Chamber of Commerce explained that business opportunities sought by members of this union are large, but mainly focus on the logistics sector and gas. "
Entrepreneurs from the South American country are interested in exporting appliances, seafood and wood products to the Nicaraguan market.
The goal of the Nicaraguan-Ecuadorian Chamber of Commerce, Industry and Commerce (Caniec) is to take full advantage of the partial scope trade agreement signed by both countries last year.
The Chamber of Commerce of Dubai will be setting up a regional office in Panama, from where it also intends to explore business in other countries of the region.
From a statement issued by the Ministry of Industry and Commerce of Panama:
MICI 27-2-2018.The Ministry of Commerce and Industry (MICI) and the Chamber of Commerce of Dubai have signed a Memorandum of Understanding for the establishment in Panama of a regional site for this organization, taking advantage of the connectivity, logistics platform and services that make us the Great Connection of Latin America, which makes us the perfect complement to Dubai, which operates as the main hub of the Middle East.
Identifying business and investment opportunities between the two countries is one of the goals of the newly created business chamber.
One of the sectors that could benefit is linked to organic and natural goods production, considering that "... 'in Europe the demand for these goods increases between 15% and 20% per year and European consumers are willing to pay a premium of almost 30% if a product is labelled 'bio'," explained the Ambassador of the European Union, Stella Zervoudaki.
With the creation of the new union the aim is to promote Salvadoran exports in the European country and use it as a gateway to the rest of the continent.
Among the products identified as having potential for export to the UK are textiles, food, drinks, coffee and ornamental plants, explained David Huezo, president of the new union.
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