Panama City has a population of over 1.5 million. It is the capital of Panama, which has a Post Brexit Trade agreement with the UK
As the economic and financial center of the country, Panama City’s economy is service-based, heavily weighted toward banking, commerce, and tourism. The economy depends significantly on trade and shipping activities associated with the Panama Canal and port facilities located in Balboa. Panama’s status as a convergence zone for capital from around the world due to the canal helped the city establish itself as a prime location for offshore banking and tax planning. Consequently, the economy has relied on accountants and lawyers who help global corporations navigate the regulatory landscape. The city has benefited from significant economic growth in recent years, mainly due to the ongoing expansion of the Panama Canal, an increase in real estate investment, and a relatively stable banking sector.There are around eighty banks in the city, at least fifteen of which are local.
Panama City is responsible for the production of approximately 55% of the country’s GDP. This is because most Panamanian businesses and premises are located in the city and its metro area. It is a stopover for other destinations in the country, as well as a transit point and tourist destination in itself.
Tourism is one of the most important economic activities in terms of revenue generation. This sector of the economy has seen a great deal of growth since the transfer of the Panama Canal Zone at the end of the twentieth century. The city’s hotel occupancy rate has always been relatively high, reaching the second highest for any city outside the United States in 2008, after Perth, Australia, and followed by Dubai.
A WINDOW FOR POST BREXIT TRADE
Following Brexit, the UK can strike its own deals for buying and selling goods and services around the world.
A Trade Agreement facilitates trade – usually in goods but sometimes in services too – by making it cheaper. This is often achieved by reducing or eliminating tariffs – charges for trading across borders.
While the UK was an EU member, it was automatically part of around 40 trade deals which the EU had struck with more than 70 countries. Post Brexit, however, there is a need for the UK to be able to access markets outside the EU that the UK has its own trade deals with.
Trade windows are required for this to happen effectively. This site is such a Trade window, and uses features as detailed below to facilitate this
Video Conferencing has now become an essential prop for Trade.
The Video Conferencing Programme featured on this site from Conferences.Center, will help enable business relationships, and plan projects.
Conferences.Center facilitates Video conferences, online meetings, and chat sessions. These play a significant role in providing and maintaining good communication which is very important for Trade.
This site is part of a wider Trade Networks Programme, which brings together Buyers, Manufacturers, Sellers, Supply Chain Finance Providers, and other players in relevant Supply chains. Buyers, can enjoy the benefits of accessing suppliers easily, wherever they are. Suppliers, can also access buyers, as part of a Blockchain Facilitated Programme.
The Coronavirus Pandemic means that the way business is done will never be the same again. However, it has thrown up new opportunities. Those who adapt fast and digitize their business, will be able to take advantage of these new opportunities. This site can help organizations take advantage of those new opportunities.
A range of Blockchain services can be accessed from this site. As far as Blockchain Adoption is concerned, it can be overwhelming for organizations to consider adopting a new process that also requires a steep learning curve of a new technology.
Users of this site can access simple entry points to utilize Blockchain for Trade, in a relatively simple and straightforward manner that requires no technical integration. A full training and support Programme is also available on request. Please contact us for more information.
All trade parties on the Blockchain can share data as they deem appropriate. Some Features of the Blockchain are detailed below.
Blockchain can eliminate the need for trust in transactions, thanks to the fact that it facilitates the use of transparent and immutable smart contracts.
Blockchain offers potential for easing and speeding up transactions between trading partners. Advantages include:
– Improving supply chain visibility and transparency
– Reduction of transaction costs
– Tracking of products moving through the supply chain
– Facilitating the sharing of information across the Supply Chain
Please contact us for more information on the above. Please also see links below that can help access useful information, as well as useful online services for Trade.