Portugal hopes for “business boost” as it opens new embassy in Panama

Portugal will be opening an embassy in Panama next month in hope that it will help boost business opportunities between the two countries. The ambassador will be Pedro Pessoa e Costa, the former administrator of Portugal’s global trade and investment agency AICEP, a source from Portugal’s Ministry of Foreign Affairs told Lusa news agency.

The source says that Portugal wants to “reinforce its political-diplomatic and business presence in Central America,” and chose Pessoa e Costa for his “great knowledge concerning economic diplomacy”.

In fact, the embassy is seen as a means of improving the two countries’ collaboration in sectors such as “infrastructures and public works, information and communications technology, transportation and logistics, pharmacy, architecture, energy and agro-food”.

The expansion of the Panama Canal, due to be completed next year, is also seen by the Portuguese government as an opportunity for more business to make its way to Lisbon and Sines ports.

As Lusa points out, Panama has been experiencing a “strong economic growth” in the last decade, with business opportunities attracting many Portuguese companies.

Around 400 Portuguese are believed to live in Panama, and their only link to Portugal before has been a small consulate in Panama City under the responsibility of Portugal’s Embassy in Bogota, Colombia.

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