Welcome to the Panama Weekly News Roundup! This week we talk about Venezuela’s impact on Panamanian politics, the end of the Panama Canal expansion standoff, shipping rates to Panama, completion of the Panama Metro, and more! Welcome to week 21 of the Panama Weekly News Roundup!
Venezuela Peace Conference Begins with Boycott; Martinelli Urges Meeting of Foreign Ministers
The ongoing crisis in Venezuela has begun to suck in regional neighbors, with Panamanian President Ricardo Martinelli insisting that a meeting must take place between South and Central American Foreign Ministers. After weeks of violence and political upheaval the Americas must be seen to take action and restore stability (if not an economic “get out of jail free” card) to Venezuela. With this in mind, Panama is leading the way in exploring a peaceful and ongoing settlement within the region.
“President Nicholas Maduro heard from his critics and supporters at a “peace conference” in Caracas that the main political opposition group decided to skip following two weeks of protests that have killed 14 people.
“Our country is not well, Mr. President,” Jorge Roig, head of the country’s main federation of business chambers, said to Maduro today at the event broadcast to the nation. “We have economic indicators that show us with one of the highest inflation rates in the world, with enormous shortages.”
United Nations Secretary-General Ban Ki-Moon today urged calm in Venezuela and called for the protection of human rights. Panama President Ricardo Martinelli this week said he asked the Organization of American States to hold a meeting of foreign ministers on the Venezuelan crisis and former U.S. President Jimmy Carter expressed concern about the violence.
Source: Bloomberg
Panama Canal Consortium Leader Content with Panama Canal Expansion Agreement
The end of legal wrangling in the case of the Panama Canal Authority and Panama Canal expansion construction firms has finally come to an end, with a final agreement to be signed in March. The government of Panama has successfully negotiated its legal course, with a satisfactory resolution helping to keep the canal on track for completion in 2015. Sacyr, the construction consortium, has resolved to resume work on the project beginning this week.
“The Spanish leader of the Panama Canal consortium expressed satisfaction on Friday February 28, with the final agreement to complete the redevelopment of the Panama Canal. Sacyr president, Manuel Manrique , said in a meeting with analysts in Madrid that the agreement is “satisfactory” for both parties : the GUPC consortium led by the builder , and the Panama Canal Authority (ACP).
The agreement will be signed next week, after it was announced in Panama on Thursday night. The pact sets December 2015 as the date of completion of the works. Sacyr recorded a financial loss of 127 million euros ($ 175 million) after tax in relation to the expansion of the Seaway, the builder said today in Madrid to present their 2013 results.”
Source Newsroom Panama
Unfinished Panama Metro due for Completion in April 2014
The rolling out of Panama’s infrastructure continues throughout the year, as news of the final date for Panama’s Metro opening is released. Slated to begin service on April 5th, the unveiling of the Metro will be a huge achievement for the Martinelli government. Taking 3 years to complete, the project is expected to ease the burden on the city’s congested traffic system and transport hundreds of thousands of passengers annually.
“Line One of Panama’s $1.8 billion Metro, although not completely finished, is scheduled to open on April 5, one month before the country goes to the polls. After three years and two months of work, it was “delivered” Thursday February 28 to the Secretariat of the Panama Metro, with a “docket” of items to be completed.
The project is 99%, complete according to the Minister for Canal Affairs and Executive Secretary of the Metro, Roberto Roy. The 1% of missing work will be handled through a list of exceptions or outstanding issues, which is a standard process in the construction industry. Among the details to be performed is finished retouching and cobbles, the completion and adjustment of escalators, and the final calibrations arising after testing the rail system.”
Source: Newsroom Panama
Shipping Household Items to Panama: Costs and Taxes
Shipping to Panama needn’t be difficult. To assist in this noble endeavour, we have put together a concise guide to finding high quality, low cost shipping in Panama. Starting with what rules and regulations you need to abide by, we have listed different container and pricing types to assist people in finding the right method and price point for their needs/budget. Check out the rest of the article to get an idea of what shipping to Panama is really like! Below is an excerpt with link to full article.
There are rules to everything in life and shipping to Panama is no different. A container company will help ease the burden of this for you, by retaining all of the relevant paperwork and guiding you through your role in the process. Certain rules that are inflexible and must be enforced by the shipping company include:
- All containers must be inspected physically by a custom official when entering a Panamanian port.
- A detailed inventory in either Spanish or English MUST be included before shipping.
- The value of each item must be listed on the above inventory.
- Items such as washers and dryers may be subject to a 20% duty if purchased new.
- Restricted items in shipping include wooden packing crates or furniture – check about the suitability of wooden items with the company.
- Weapons, drugs, plants, raw food, fruits, and meat are not allowed in containers.
Read the full shipping to Panama article here
