Panama and Venezuela Reestablish Business Relationships

The agreement between both governments also implies the resumption, in the coming days, of Copa flights between Caracas and Panama City.

Friday, April 27, 2018

Almost a month after President Maduro decided to suspend economic relations with Panama, both governments have reached an agreement to resume dialogue.

See: "Venezuela cuts Ties with Panama" and "Copa Airlines Flights to Venezuela Suspended".

From a statement issued by the Ministry of Foreign Affairs in Panama:

The Governments of the Republic of Panama and the Bolivarian Republic of Venezuela, in the interest of maintaining constructive bilateral relations and not affecting the welfare of their citizens, agree to: 

  1. Restore the presence of the Panamanian ambassadors  accredited in Venezuela and those of Venezuela accredited in Panama.
  2. Restore air connectivity.
  3. Keep the diplomatic dialogue open in order to continue addressing the various aspects of the bilateral agenda. 
  4. Following up on the aforementioned, the Foreign Ministers of both countries will present a progress report to the Presidents in thirty days.



More on this topic

Goodbye Taiwan, Hello China

June 2017

Panama's decision to establish diplomatic relations with the People's Republic of China is a promising step towards turning the country into a gateway for investments by the Asian giant in the region.

EDITORIAL

Although Panama is not the first country to break diplomatic relations with Taiwan in order to establish them with China, with Costa Rica having done so in 2007, it is the only country in the region that has the necessary logistical and commercial conditions to become an ideal platform for Chinese investments.

Israel and Nicaragua Resume Relations

March 2017

The decision taken by both governments to restore the diplomatic relations, which were suspended in 2010, has opened the door to promotion of Israeli investment in the country.

The announcement was made through a statement issued jointly by the two governments. The restoration of diplomatic relations could bring positive consequences for the Nicaraguan economy by facilitating the arrival of investment to the country by Israeli companies.

Panama and Arab Emirates: Investment Protection Agreement

November 2014

The government has announced that it will open an embassy in Iraq, and has started negotiations to abolish visas, arrange investment protection and study a commercial airline connection.

From a statement issued by the Ministry of Foreign Affairs of Panama:

During an official visit to the city of Abu Dhabi (UAE), the Vice President and Chancellor Isabel de Saint Malo de Alvarado and his UAE counterpart agreed to an exchange of embassies between Panama and the United Arab Emirates, seeking to strengthen and expand diplomatic relations between the two countries. With the same objective, the Minister of Foreign Affairs of the UAE raised a possible visit to Panama by the Crown Prince in 2015.

Panama and Venezuela Normalize Relations

July 2014

Both governments agreed to reopen the corresponding diplomatic missions and resume trade relations starting July 1st.  

Nicolás Maduro's government suspended political and trade relations with the Panamanian government on March 5, denouncing political interference from former President Ricardo Martinelli.

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