The Vietnam–Panama Trade Promotion Seminar, held in Panama City on October 15, 2026, opened new opportunities for business connections and cooperation in logistics, maritime transport, warehousing and international trade.
Vietnam and Panama Expand Trade and Investment Opportunities
On October 15, 2026, the Vietnam Trade Office in Mexico, concurrently responsible for Panama, organized the Vietnam–Panama Trade Promotion Seminar in Panama City. The event brought together representatives of Panama’s Ministry of Commerce and Industries (MICI), relevant government agencies, and approximately 30 representatives from Panamanian businesses and business associations.
The seminar took place following the official visit to Vietnam by Panamanian President José Raúl Mulino in early October 2026. It aimed to showcase Vietnam’s economic and trade potential, facilitate business networking, and encourage companies from both countries to explore new commercial and investment opportunities.
At the event, Phan Thi Nga, representing the Vietnam Trade Office in Mexico and concurrently responsible for Panama, emphasized that the trade promotion initiative was designed to help Panamanian businesses connect with Vietnamese suppliers, increase bilateral trade and strengthen commercial ties between the two markets.
Bilateral cooperation gained further momentum following President Mulino’s visit, during which the two countries signed nine cooperation documents covering priority areas such as maritime transport, aviation, logistics, warehousing, insurance, agriculture and trade. Both sides also agreed to launch negotiations on an agreement for the promotion and protection of investments.
According to figures presented at the seminar, bilateral trade between Vietnam and Panama increased from approximately US$5 million in 2005 to US$478 million in 2025. Vietnam’s exports to Panama reached around US$462 million, while imports from Panama stood at approximately US$15.5 million.
Although the two countries have not concluded a bilateral free trade agreement (FTA), they have established several important foundations for cooperation. Panama recognized Vietnam as a market economy in 2010, while the two countries have also established arrangements concerning visa exemptions and the avoidance of double taxation.
With its strong manufacturing and export capabilities, Vietnam can serve as a gateway for Panamanian businesses seeking access to Asian markets. Meanwhile, Panama’s strategic position in international trade offers Vietnamese exporters opportunities to expand their presence across Latin America.
Priority areas for further cooperation include agriculture, fisheries, processing and manufacturing industries, semiconductors, tourism and investment. Panama currently has 14 investment projects in Vietnam.
To strengthen direct business connections, the Vietnam Trade Office also invited Panamanian companies to attend Vietnam International Sourcing, an event organized by Vietnam’s Ministry of Industry and Trade and scheduled for July 2027.
Panama’s Role as an International Logistics and Investment Hub
In addition to promoting bilateral trade, the seminar highlighted Panama’s investment environment and policies for attracting foreign capital. As an international trade and logistics hub in the Americas, Panama offers Vietnamese businesses another potential market for investment, distribution and supply chain development.
At the event, Hardeep Singh Bhullar, Director of the Department of Foreign Direct Investment Attraction under Panama’s Ministry of Commerce and Industries, highlighted Panama’s role in international trade and logistics, supported by a network of more than 23 free trade agreements.
MICI representatives expressed their willingness to assist foreign investors in understanding the local business environment and identifying investment opportunities, while encouraging Vietnamese companies to explore the Panamanian market.
Two key investment incentive frameworks were presented at the seminar: the Free Trade Zone regime under Law No. 32 of 2011 and the Qualified Investor Program.
According to information presented by the Panamanian side, the country has 27 free trade zones, including 20 operational zones and seven under development, hosting more than 200 companies. Eligible businesses operating in these zones may benefit from incentives related to licensing, import duties on raw materials and machinery, and taxation of income from overseas export activities, subject to applicable regulations.
Under the Qualified Investor Program, minimum investment thresholds range from US$300,000 to US$750,000, depending on the investment category. According to the Panamanian side, the program attracted more than 900 investors and generated over US$430 million in investment after six years of implementation.
These policies provide Vietnamese businesses with opportunities to assess investment options, establish distribution activities and develop commercial operations in Panama. However, companies will need to evaluate local regulations, market conditions and operating costs before deciding on an investment strategy.
Addressing Rules of Origin to Strengthen Supply Chain Connectivity
During the discussion session, business representatives and government officials from both countries exchanged views on investment procedures, rules of origin, product traceability and the potential re-export of Vietnamese goods to the US market.
Representatives of the Panama Chamber of Commerce noted that attracting investment from Vietnam should be linked to actual market demand, established supplier networks and the availability of local raw materials. Seafood processing was identified as one area with potential for cooperation.
Regarding rules of origin, the Panamanian side explained that the level of processing or transformation required for goods to qualify as originating in Panama must be assessed on a case-by-case basis. Relevant authorities are prepared to coordinate with the Vietnam Trade Office to clarify regulatory requirements and help businesses address market-entry challenges.
Servio Samudio, former Ambassador of Panama to Vietnam, highlighted the complementary strengths of the two economies. Vietnam has strong manufacturing capabilities, while Panama benefits from its position as a trade connectivity hub in the Americas.
Combining these advantages could create opportunities beyond merchandise trade, including investment cooperation and more integrated supply chain development.
For Vietnamese companies, stronger partnerships with Panamanian businesses could provide additional pathways into Latin American markets and create opportunities to explore international transportation, warehousing and distribution solutions that meet their commercial needs.
The Vietnam–Panama Trade Promotion Seminar represents a further step toward translating bilateral cooperation priorities into practical business opportunities. Strengthening market information exchange, addressing rules-of-origin requirements and expanding business partnerships will be important to improving the effectiveness of bilateral cooperation.
Through continued trade promotion and investment networking, Vietnam and Panama have opportunities to increase bilateral trade, develop long-term commercial relationships and strengthen connections with regional and international markets.
Source:
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