LatinNews Daily - 19 July 2021

In brief: Panama and Japan to boost trade and investment ties

* Panama’s President Laurentino Cortizo and Japan’s foreign minister Toshimitsu Motegi have announced plans to strengthen trade ties as well as Japan’s interest in investing in Panama. The announcement followed an 17-18 July visit to Panama by Motegi, who also met his Panamanian peer Erika Mouynes. A Panamanian presidency press release highlighted Japan’s existing investments in Panama, including a US$2.8m loan agreement signed by the Japan International Cooperation Agency (JICA), a governmental agency, for line 3 of the Panama City metro which is under construction. President Cortizo said that as part of efforts to strengthen this trade and investment relationship, the two countries should designate a team to study the possibility of increasing exports and boost investment and that the Panamanian foreign ministry would organise a tour to Japan the following year to include representatives from government and the private sector. The Panamanian government also highlighted Japanese support for Panama’s fight against the coronavirus (Covid-19) pandemic, including the provision of medical equipment worth US$5.6m.

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