Welcome to the Panama Weekly News Roundup! Here’s the latest.
Gas Prices Fall on Black Friday
Gas prices have been favorable so far this year in Panama, and another price drop came this week. In fact, it’s coming just in time for the biggest shopping holiday in Panama, as well as one of the biggest tourist holidays in Panama: Black Friday. Starting on November 27th, the price of 95-octane gasoline will decrease by 20 cents per gallon, while 91 octane will go down by 15 cents. Diesel gas will also go down, but only by a margin of 12 cents per gallon.
These price drops are expected to stimulate in-store shopping and tourism as Panama leads into both Black Friday, and a national holiday (28th), the Independence of Panama from Spain.
Source: Newsroom Panama
Panama and Israel Sign Free Trade Agreement
Earlier last week, Panama made another bold trade move, signing a Free Trade Agreement with the nation of Israel. This is Panama’s 2nd FTA agreement in just over a year (Mexico was first), and one of many big trade deals for the small but powerful, Central American state.
“This is our very first agreement with a Middle Eastern partner and hence it represents important opportunities to Panamanian exporters and businessmen. It has a vast coverage of goods, services and investment,” said Meliton Arrocha, Panama’s minister of trade and industries.
A special chapter of the agreement also intends to boost the capabilities and competitiveness of the Central American nation’s small- and medium-sized companies in innovation and technology transfer fields, he added.
Source: Jewish Telegraph Agency
The Potential Impact Of The Panama Canal Expansion On Union Pacific
The Panama Canal Expansion is set to boost ports all around the world. But did you know that it would also have a major effect on railways as well? In this case specifically, Union Pacific. Union Pacific is one of the largest rail shipping companies in the world. And with the expanded Panama Canal, they expect big returns on new business.
As Union Pacific’s rail network is concentrated west of the Mississippi river, the company’s international container traffic mostly pertains to west coast ports. Therefore, the growth in Union Pacific’s intermodal shipments is strongly correlated with the growth in container traffic at west coast ports.
Though container traffic is expected to grow on the west coast, the ongoing expansion of the Panama Canal could hamper this growth by shifting some traffic to the east coast. In this article, we will take a look at the potential impact of the completion of the expansion of the Panama Canal on Union Pacific’s intermodal shipments.
Source: Forbes
5 Reasons Why Panama is a Family Friendly Destination for Expats
Panama has long been a popular destination for expats. Whether it’s for investing in a business, working for a business, or retiring, Panama has become famous for its vibrant expat community. But Panama isn’t just a great expat haven for the young investor or retiree. Panama is also a very family friendly country, and is a great option for expats with children of all ages. Here’s an excerpt from our latest blog post, on one of the top reasons Panama is a family friendly place:
Accessibility
Bringing your family to a foreign country will more than likely cause some homesickness from time to time; and that’s perfectly normal. One of the biggest benefits for expat families who relocate to Panama is that Panama has an incredibly accessible location. Travel, be it for going home to see the grandparents or taking a quick vacation, is very easy and accessible. Panama is just a few hours flight from the US, and has around 100 non-stop international destinations via its 3 international airports.
Continue reading about why Panama is a family friendly destination
