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Panama trade mission slated (from Cayman Islands)

Money Matters A trade mission to Panama in March organised by the Cayman Islands Chamber of Commerce will give local business people the opportunity to explore a new and dynamic import/export market. The Chamber of Commerce has partnered with three local sponsors – Cable & Wireless, Scotiabank and Seaboard Marine – and has planned a packed itinerary that should leave no stone unturned when it comes to exploring trade and investment links with the Central American country. Chamber CEO Wil Pineau explained the important role the three sponsors will play in the venture, “It was vital that this trade mission had strong support from three important areas of business – telecommunications, shipping and banking,” he said. “The strength of the link between Cayman and Panama in these three core areas of business will underpin the success of establishing trade links.” The trade mission leaves Cayman on Tuesday 7 March and the following day will offer people the chance to participate in a conference aimed at explaining how business can be conducted in Panama. The President of Panama has been invited to give the welcome address at this conference. Panama trade mission slated
By Lindsey Turnbull,
Sunday 12th February, 2006 Posted: 20:17 CIT (01:17 +1 GMT)

Mr. Pineau

Some key government officials from the Cayman Islands will attend the mission and Charles Clifford, Minister for Tourism, Aviation, Commerce and Investment is scheduled to deliver a speech at the conference explaining to Panamanian delegates why the Cayman Islands is an ideal location for investment and tourism.

Attendees will also get the chance on Wednesday to visit Expocomer 2006, Panama’s largest trade show and exposition, with an anticipated attendance of over 30,000 people.

On Thursday 9 March, those attending the trade mission will take a train ride to the Cólon Free Trade Zone where tours have been arranged to visit the various businesses with which local merchants can do business.

Morgan Dacosta, President of the CI Chamber of Commerce explained: “Panama is one of the fastest growing economies in Central America and exports billions of dollars of quality merchandise to the Caribbean, South and Central America each year.

“On average wholesale prices are 20 to 30 per cent cheaper than merchandise that can be purchased from the traditional US routes, so it makes sense for Cayman business owners to work at developing relationships with these businesses in Panama.”

Giving everyone the chance to sample Panama’s tourism product, attendees will be transported to the Playa Bonita Resort on Friday 10 March to enjoy Panamanian hospitality at its best.

After an overnight stay at the resort the Cayman contingent leaves for home on Saturday 11 March.

Those attending the trade mission will also be given the opportunity to network via scheduled lunches, cocktail receptions and dinners arranged with entities such as the Panama Chamber of Commerce and other business people crucial to establishing trade links with Cayman.

A deluxe room at the InterContinental Hotel will cost US$1,495. This price includes airfare, airport taxes, accommodation, hotel taxes and transportation to and from the airport, as well as to and from the Cólon Free Trade Zone and the Resort.

Passport holders from the United Kingdom, United States and the Cayman Islands do not need a VISA to enter Panama.

Contact the Cayman Islands Chamber of Commerce for more information or call on 949 8090.

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