Welcome to the Panama Weekly News Roundup! Here’s the latest.
Panama Ship Registry Extends Payment of Fees for Greek Ship Owners
Greece is in the midst of a default, and deep economic crisis. And Panama is willing to help ease the pressure of payment to its ship owners registered in their country. In a sign of solidarity with the European nation, Panama will extend dues until the end of the summer.
The Panama Maritime Authority (AMP) through the Directorate General of Merchant Marine, not being alien to the present Greek economic situation and willing to support “all our operators, owners, landlords, Greek economic groups with Panama-flagged vessels that have to pay taxes and fees [which are next to expire] at the Panama Consulate of Piraeus, Greece, has decided to extend the payment thereof without surcharges and interest until next 31 August 2015”, the AMP said in a statement.
Source: Seatrade Maritime News
Panama-Mexico FTA Will Boost Regional Integration, Officials Say
Panama’s Free Trade Agreement with Mexico went into effect this past April, and so far, officials from both countries are largely optimistic of its future. This may, in fact, be the impetus for a larger Latin American partnership via the Pacific Alliance. Here’s why.
Panamanian government officials and Mexican Economy Secretariat representatives discussed the agreement at a conference held on Tuesday by the Panamanian Trade, Agriculture, Industry and Agriculture Association, or CCIAP.
Participants discussed the FTA and said it provided a “window of opportunity” for merchants, industrialists and exporters in Panama and Mexico.
Intellectual property, rules of origin, dispute resolution, access to markets, health regulations, e-commerce, financial services, travel rules, investment and cross-border trade were among the topics discussed. The FTA, which was signed by Panama and Mexico on April 3, 2014, has 21 chapters and covers about 4,000 tariffs.
Source: Fox News Latino
Water Begins to Fill Massive Panama Canal Expansion Locks
The Panama Canal Authority made big progress this week as they added one of the final pieces of the puzzle in the completion of their multi-billion dollar expansion; they flooded the locks.
“Filling the locks with water is the culmination of arduous years of labor and the realization that we are within arm’s reach of completion of one of the most impressive infrastructure projects of our time,” said Jorge L. Quijano, chief executive and administrator of the canal authority.
The $5.25 billion expansion is now about 90 percent complete and is expected to open to commercial traffic in April 2016 — nearly two years behind schedule.
The expansion includes larger locks on both the Atlantic and Pacific sides of the 50-mile-long canal and new access channels that will be able to handle the longer, heavier and wider post-Panamax ships that increasingly transit the world’s oceans.
Source: The Miami Herald
Panama Ranked #1 in World’s Happiest Country Survey; Again
If you ask the locals and expats in Panama, they’ll tell you that the quality of life here is simply unmatched. In 2015, for the 2nd year in a row, a new Gallup survey confirms this. To learn why, check out one of our latest blog posts.
There are many interpretations for why Panama leads in happiness, or as the study phrases it, well-being, but to put it in simple terms; people enjoy an unprecedented quality of life here. Access to food, affordable housing, housing security, job security, low unemployment, and good healthcare are some of the big reasons. But if you ask a Panamanian, or an expat who lives here, they’ll say Panama leads the world in happiness because of the “no worry” culture. It’s not to say that locals and expats don’t worry, but Panama is well known for a laid-back attitude, and proud low stress culture. With easy access to all of the aforementioned quality of life variables, there’s really very little to get stressed about.
Continue reading about why Panama is the world’s happiest country
