panama market guide - second edition 2015
DESCRIPTION
Interested in exporting to Panama? exporTT has put together this Market Guide to provide insight to the Panamanian Market.TRANSCRIPT
Table of Contents FOREWORD .............................................................................................................................................................
PARTIAL SCOPE TRADE AGREEMENT ....................................................................................................................
SECTION 1.0: MARKET OVERVIEW ...................................................................................................................... 2
1.1 Introduction ................................................................................................................................... 2
1.2 Population ...................................................................................................................................... 2
1.3 Demographics ................................................................................................................................ 2
1.4 Climate ............................................................................................................................................ 3
1.5 Language ........................................................................................................................................ 3
1.6 Hours of Business .......................................................................................................................... 3
1.7 Public Holidays ............................................................................................................................. 3
1.8 Travel & Transportation ............................................................................................................... 3
1.9 Time Zone ...................................................................................................................................... 4
1.10 Currency ......................................................................................................................................... 4
1.11 Communication ............................................................................................................................. 5
SECTION 2.0: ECONOMIC AND POLITICAL ENVIRONMENT ............................................................................... 5
2.1 Economic Performance ................................................................................................................. 5
2.2 Structure of Output ....................................................................................................................... 6
2.3 Economic Outlook ......................................................................................................................... 7
2.4 Business .......................................................................................................................................... 7
2.5 Labour Force .................................................................................................................................. 8
2.6 Political Stability and Structure ................................................................................................... 8
SECTION 3.0: TRADE ENVIRONMENT ............................................................................................................... 10
3.1 Import Statistics ........................................................................................................................... 10
3.2 Import Tariffs & Taxes................................................................................................................ 11
3.3 Trade Barriers .............................................................................................................................. 12
3.4 Prohibited and Restricted Imports ........................................................................................... 12
3.5 Trade Agreements ....................................................................................................................... 13
SECTION 4.0: MARKET CHALLENGES ............................................................................................................... 13
4.1 Culture .......................................................................................................................................... 13
4.2 Price ............................................................................................................................................... 14
4.3 Competition ................................................................................................................................. 14
4.4 Taste Preference ........................................................................................................................... 14
4.5 Brand Loyalty .............................................................................................................................. 15
SECTION 5.0: TOP MARKET OPPORTUNITIES AND PROSPECTS ....................................................................... 15
SECTION 6.0: MARKET ENTRY STRATEGIES ...................................................................................................... 15
6.1 Using an Agent or Distributor................................................................................................... 15
6.2 Joint Ventures/Licensing ............................................................................................................ 16
SECTION 7.0: SELLING, MARKETING & PROMOTIONS ..................................................................................... 16
7.1 Selling Factors/Techniques ........................................................................................................ 16
7.2 Trade Promotion ......................................................................................................................... 18
7.3 Advertising .................................................................................................................................. 18
7.4 Electronic Commerce .................................................................................................................. 18
7.5 Distribution and Sales Channels ............................................................................................... 18
7.6 Pricing ........................................................................................................................................... 19
7.6 Shipping Information ................................................................................................................. 19
7.7 Due Diligence .............................................................................................................................. 19
SECTION 8.0: REGULATIONS AND STANDARDS ............................................................................................... 21
8.1 Sanitary Product Registration ................................................................................................... 21
8.2 Samples ......................................................................................................................................... 21
8.3 Packaging, Labelling and Marking Requirements ................................................................. 21
8.4 Customs Regulations .................................................................................................................. 22
SECTION 9.0: TRADE EVENTS AND FAIRS ......................................................................................................... 22
SECTION 10.0: FINANCING EXPORTS TO PANAMA .......................................................................................... 23
SECTION 11.0: USEFUL CONTACTS ................................................................................................................... 24
11.1 Trinidad and Tobago .................................................................................................................. 24
11.2 Panama ......................................................................................................................................... 25
Appendices ..............................................................................................................................................................
Appendix I – Price Controls implemented from 1st July, 2014 ..............................................................
Appendix II – Selective Consumption Tax (ICS).....................................................................................
Appendix III – Buyers & Distributors .......................................................................................................
Appendix IV – Public Translators .............................................................................................................
FOREWORD
This Market Guide is intended to give Trinidad & Tobago exporters relevant and valuable information for
successfully exporting their goods to Panama. The information contained therein is based on a compilation
of exporTT’s visits to the market, in-market consultant information, and desk research which is cited
accordingly. Feel free to contact us at 1.868.623.5507 to discuss your exporting needs.
**********
PARTIAL SCOPE TRADE AGREEMENT
BETWEEN
THE REPUBLIC OF TRINIDAD AND TOBAGO
AND
THE REPUBLIC OF PANAMA
The Republic of Trinidad and Tobago and the Republic of Panama commenced negotiations of a
Partial Scope Trade Agreement on January 25, 2011. After three rounds of negotiations, two in
Port of Spain and one in Panama City, the negotiations were successfully concluded on Friday
June 3, 2011.
The objectives of the Agreement are to:
(a) promote through the expansion of trade in goods and services the harmonious
development of the economic relations between the Parties;
(b) contribute to the removal of barriers to trade;
(c) enhance the development and expansion of trade;
(d) strengthen cooperation activities in all areas relevant to trade between the Parties;
(e) provide fair conditions of competition for trade between the Parties; and
(f) develop mechanisms that facilitate investments of nationals of a Party in the territory of
the other Party
The Agreement was passed before the Senate in May 2015. The Bill is currently waiting to be
enacted by Parliament. Please see http://www.ttparliament.org/legislations/a2015-05.pdf for the
full Partial Scope Agreement.i
Market Guide for Exporting Goods from Trinidad and Tobago to Panama Page 2 of 25
SECTION 1.0: MARKET OVERVIEW
1.1 Introduction
Panama is located in Central America between Costa Rica to the north and Colombia to the south.
It is at the southern end of the Central American isthmus (a narrow piece of land that connects
two larger land areas) and forms the land bridge between North and South America.
The country is comprised of the following nine (9) provinces: Boca del Toro, Chiriquí, Conclé,
Darién, Herrera, Los Santos, Panamá, Veraguas; and three (3) provinces of indigenous
populations known as Comarca: Emberá, Kuna Yala, Ngäbe Buglé.
A map of Panama is below.
1.2 Population
The last population census held by the National Statistical Institute of Census and Statistics
(INEC) was in 2010 where the total population was estimated at 3,405,813. Most recent show that
50.23% of the population is male while 49.77% is female. The most populous province is Panamá
with the indigenous Comarcas seeing smaller populations.
National Statistical Institute of Cenus and Statistics (2013)ii
1.3 Demographics
Ethnic Groups:
Main Groups: Mestizo (Mixed Spanish and American Indian
descent), Indian and Afro-Panamanians.
Minorities: Greek, Asian, Indian, Chinese, Lebanese, North
American and European.
Religions: Christian (Source: Levinson 1998)iii
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1.4 Climate
Much like Trinidad and Tobago, Panama has two seasons; dry and rainy. The dry season is from
December to May while the rainy season is from June to November. During the dry season, the
temperature during the day range from 30°C-31°C while at night it may range from 21°C-23°C. (Source: Smithsonian Tropical Research Institute, n.d)iv
1.5 Language
Spanish is the official language of Panama but English is widely spoken. In addition, there are
approximately fourteen (14) languages spoken in Panama, among them Arabic, Hebrew, Chinese
Dialects and indigenous languages. (Source: Ethnologue 2014).v
1.6 Hours of Business
Businesses: Monday – Friday; 8:00 a.m. – 5:00 p.m., and Saturday 8:00 a.m. – 12:00 noon
Bank: Monday to Friday; 8:00 a.m. – 3:00 p.m., and Saturdays, 9:00 a.m. – 12:00 noon
Government offices: Monday to Friday; 8:30 a.m. – 4:30 p.m.
These are the general hours but the times of operations for banks and businesses should be verified as they
may vary.
1.7 Public Holidays
Month Day Observance
January 1 New Year’s Day
January 9 Martyrs’ Day
TBA Annually Good Friday
May 1 Labour Day
August 15 Old Panama City Day (Observed in Panama City only)
November 3 Independence Day from Colombia
November 10 Anniversary of Los Santos Uprising
November 28
Independence Day from Spain (if this date is mid-
week, the holiday is celebrated on the following
Monday
December 8 Mother’s Day
December 25 Christmas Day
1.8 Travel & Transportation
1.8.1 Airline Travel
There are direct flights from Piarco Airport to Panama City through COPA Airlines twice a day,
and the flight duration is approximately 3 hours and 15 minutes.
Website: www.copaair.com
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American Airlines also offers a flight from Piarco to Panama City with a layover in Miami and
occasional stops throughout the Caribbean.
Website: www.americanairlines.com
1.8.2 Main Airport
The main airport in Panama is the Tocumen International Airport (PTY) and the distance from
Panama City is 15 miles. The approximate driving time is between 20 minutes to over 1 hour,
dependent on the traffic, route and time of day.
1.8.3 Entry Requirements
Individual Entry Requirements
1. Valid Passport (should not be expiring in 6 months)
2. Airline Ticket
Individual Exit Requirements
1. Valid Passport (No visa required for stay less than 180 days)
2. Airline Ticket
3. Departure Tax = US40 (it is either included in the ticket price and if not, it can be paid at
the airport) (Source: International Air Transport Association 2014)vi
1.8.4 Ground Transportation
Transportation in and around Panama City can be done via the taxi, bus or metro system. Taxis
are readily available through the city and can cost on average USD 1 – 1.50 depending on the
distance and number of persons. The bus system is an inexpensive way to get around the city but
require familiarity with the country to manoeuvre. The metro system is new and currently limited
in its reach but construction is expected to continue extending the Metro system.
A map of Panama’s metro system can be seen at http://www.elmetrodepanama.com/pdf/LineaUno.pdf
Your hotel can also recommend the most appropriate form of transportation for your need.
1.9 Time Zone
Central Standard Time (CST)
Time Difference: 1 hour behind Trinidad and Tobago
1.10 Currency
The official currency is the Balboa. As a dollarized nation, the Balboa is the same value as the
USD, therefore all prices are quoted in US. It is important to note when using US currency larger
Market Guide for Exporting Goods from Trinidad and Tobago to Panama Page 5 of 25
than 100, persons are expected to walk with identification. Each bill is photocopied and the serial
code is written down in their records, which must be signed. This is done to reduce counterfeit
US Dollars which is very popular in Panama.
The following site shows the current Foreign Exchange Rates for all currencies.
https://www.foreignexchangeresource.com/forex_tables.php
1.11 Communication
Calls from Trinidad and Tobago to Panama = 011 – 507 – 7 digit phone number
Calls from Panama to Trinidad and Tobago = 00 – 1 – 868 – 7 digit phone number
SECTION 2.0: ECONOMIC AND POLITICAL ENVIRONMENT
2.1 Economic Performance (2014)
Indicator Economic Performance
GDP (USD Million) 42,212.6
GDP per capital (USD) 11,770.86
GDP Growth (%) 6.16
GDP by sector (2012) Services – 74.41% Manufacturing – 5.75%
Industry – 22.11% Agriculture – 3.47%
Inflation Rate 2.64
Unemployment Rate (2013) 4.09
Imports by Product (2013) Mineral products – 28%, Machinery and mechanical
appliances – 21.3%, Products of the chemical or allied
industries – 8.7%, Textiles and textile articles - 5.9%, Base
metals and articles thereof – 5.6%
Import Partners (2013) USA – 24.3%, European Union – 11.1%, China – 7.9%
Mexico – 4.1%, Costa Rica – 4.0% (Sources: World Bank (2015); European Commission Trade Directorate, 2015vii)
Panama is a strong economic powerhouse that is supported by the services provided to the
Panama Canal and the country’s banking system. The country’s average growth of 8.4% between
2007 and 2013 has made it one of the fastest growing economies in Latin America and one of the
more sound economies (The country was able to successfully weather the global economic crisis which
began in 2008). The recent elections held last year resulted in an expansion of infrastructural
development of roads and the expansion of the metro system, which has been continued by the
present administration.
President Mr. Juan Carlos Varela’s, implementation of price controls of twenty-two (22) basic
food products are intended to curb price discrimination and inflation of food products between
wholesalers and retailers on the day of his inauguration. These controls still stand. See full list with
Market Guide for Exporting Goods from Trinidad and Tobago to Panama Page 6 of 25
prices in Appendix I. The 2015/16 fiscal has proposed reforms to the education system to create a
bi-lingual competitive workforce to support the country’s service industry and further
infrastructural development in the City of Colon. Further to these developments, the country is
attempting to transition from being a transhipment hub to an assembly and finishing site.
The developments of the Panama Canal are near completion, but it is still unclear if it will be
completed by the end of 2015 as previously forecasted.
2.2 Structure of Output
Panama is a service based economy heavily reliant on the value chain related to and around the
Panama Canal and its operation. The tables and graphic representations below demonstrate each
sectors’ contribution to GDP and its growth over the past 3-4 years.
Table 1: Value Added Contribution to GDP (%), 2010-2012
Agriculture Manufacturing Industry Services
2010 3.75 6.65 20.94 75.30
2011 3.36 6.11 21.47 75.17
2012 3.47 5.75 22.11 74.41 (Source: World Bank (2014))
The above table reiterates the services sector’s contribution to GDP. Together, the services and
industrial sector comprise over 90% of the country’s GDP.
(Source: World Bank 2014)
-10
-5
0
5
10
15
20
2010 2011 2012 2013
Sector Output, 2010-2013
Agriculture Manufacturing Industry Services
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This small snapshot of the Panama’s economy shows that the industrial sector of the country is
experiencing the fastest growth, surpassing that of services.
2.3 Economic Outlook
Inflation is an issue that has been plaguing Panama’s economy in recent times. President Varela,
has temporarily controlled the price inflation on certain basic food items, but this is a short-term
fix. Business Monitor International (2014) forecasts that inflation will continue, especially as
banks have not been giving credit as generously to agricultural producers. This has resulted in
more price pressures on food products. In the short-term, BMI predicts that Varela’s policy will
impact Panama’s international business performance.
Below is a forecast of GDP growth for the next nine (9) years. While the rhythm of GDP growth
is balanced during the period, the growth is generally lower than 2012 forecasts. Part of this
downgrade is due to the cease in infrastructural developments after elections and the completion
of the Panama Canal.viii
(Source: Business Monitor International 2014)
2.4 Business
To measure Panama’s business performance, the Ease of Doing Business by the World Bank and
the Economic Freedom Index by The Heritage Foundation were utilised respectively.
In the Ease of Doing Business Index 2015, Panama improved in ranking to 52. This index is
constructed by measuring ten (10) indicators, one of which is the ease of trading across borders.
The country’s performance in trade improved from last year’s ranking of 9th in the world. This
means that Panama is considered to be one of the easiest economies to conduct trade with in the
world. However, the main areas of concern are paying taxes (166), resolving insolvency (132);
both of which deteriorated from the year prior, and enforcing contracts (85).
2014 2015 2016 2017 2018 2019 2020 2021 2022 2023
GDP Growth 7.6 6.5 6.8 6.2 5.2 5.8 6.1 5.1 5.6 5.6
3
4
5
6
7
8
Gro
wth
GDP Growth Forecasts 2014 - 2023
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In contrast to the Ease of Doing Business, the Economic Freedom’s Index serves to measure a
country’s economic performance as a measure of attaining positive socio-economic goals.
Particular indicators in this index, offer insight into Panama’s business environment.
Overall the country improved its business freedom rating by 0.7 point, making it the 68th most
free business environment in the world, following Trinidad and Tobago which ranked 67th. The
price controls on stable foods resulted in the business freedom indicator under Regulatory
Efficiency, as predicted in the last edition of this Market Guide.
2.5 Labour Force
Much of Panama’s labour force is employed in the largest contributor to the country’s GDP;
services. The largest employer in the services industry is the wholesale and retail sector. The rate
of employment is that sector has fluctuated, much like that of the unemployment rate. The
country has witnessed a boom in infrastructural development which is evident through the
increase in the employment of the construction sector.
(Source: WTO 2014)
2.6 Political Stability and Structure
Structure
In 1989, Panama’s military regime led by General Manuel Antonio Noriega was overthrown by
the US military. Since then, successive governments have been termed as ‘civilian’ due to them
being elected via democratic means (Congressional Research Service 2012).ix Panama is a
democratic republic with a President as the head of state and head of government, unlike that of
EMPLOYMENT BY SECTOR, 2013
Agriculture and related activities Mining and quarrying
Manufacturing Electricity, gas and water supply
Labour Force: 1,777,005 (2012 est)
(Population Size = 3,405,813)
Unemployment: 4.5 (2012 est.)
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Trinidad and Tobago where these powers are separated between the President and the Prime
Minister. While the government holds executive power, the National Assembly holds legislative
power. Therefore, the government cannot rely on its efforts in the general elections to be effective
in the National Assembly. There are currently eleven (11) political parties, but 5 parties
traditionally hold the majority of votes; The Democratic Revolutionary Party (PRD), Panameñista
Party (PP), Democratic Change (CD), Nationalist Republican Liberal Movement and the people’s
Party.
(Source: Business Monitor International 2014)
Stability
Panama’s short-term political stability is currently being threatened by President Varela’s
legislative alliance with the fragmented Partido Revolucionario Democrático (PRD). The party has
experienced a high level of resignations and currently suffer from deep international fractions.
As Varela’s party did not take a large enough majority in the legislative election to function
unilaterally, it is heavily reliant on the PRD’s stability in order to pass many of the promises he
made in his election campaign.
(Source: Business Monitor International 2014)
A year into the Varela administration, the government has undergone a campaign of ending
government-related corruption. From this, eight (8) government Ministers from the former
Martinelli administration have been either jailed, arrested or are under investigation.x These
numbers are expected to increase as the government-led attempt to eradicate corruption
continues. Members of the past administration and those affiliated to it have cried political
victimization which, the Peruvian President of Transparency International stated, in
EXPOCOMER 2015, could leave a long lasting stamp on the country. This, he said, may have
economic implications, as it did for other countries in Latin America in the past.
(Source: Agencia Efe 2015)xi
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SECTION 3.0: TRADE ENVIRONMENT
3.1 Import Statistics
Panama’s largest imports for 2014 are listed below.
HS Code
(2 Digit) Product Label
Value in 2014
(USD Thousand)
27 Mineral fuels, oils, distillation products, etc 13,705,266,000
84 Machinery, nuclear reactors, boilers etc 1,587,445,000
87 Vehicles other than railway, tramway 1,191,550,000
85 Electrical, electronic equipment 984,354,000
73 Articles of iron or steel 708,670,000
39 Plastics and articles thereof 434,028,000
72 Iron and Steel 399,515,000
30 Pharmaceutical products 345,442,000
62 Articles of apparel, accessories, not knit or
crochet 328,547,000
94 Furniture, lighting, signs, prefabricated
buildings 274,832,000
(Source: ITC 2014, reflection data)
The main source of importers were the following:
(Source: WTO 2014)
The largest source of Panama’s imports have been from Free Zones, whose major After Free
Zones, came USA. Additionally, imports from the Free Zones increased by 8.9% from 2007 to 2008
from 15.6% to 30.4%. Indicative of the impact financial crisis in the US and later the global
economic crisis, between 2007 and 2012, imports from the Free Zones increased 14.8%. In contrast,
Free Zones USA China Costa Rica Mexico
2010 27.6 27.6 5.4 4.9 4.3
2011 30.3 24.9 6.1 4.5 3.9
2012 30.4 23.6 6.4 4.6 4.4
0
5
10
15
20
25
30
35
PE
RC
EN
TA
GE
Top Merchandise Imports Source
(% of Total Imports) , 2010-2012
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imports from the US decreased by 7.6% from 2007-2012 from 30.9% of the country’s imports to
23.6%.
In recent years, this trajectory would have changed. The imports from the Free Zones, whose
major sources were once Venezuela and Colombia, witnessed a decline because of the US
shortage in Venezuela and an ongoing trade dispute with Colombia over sneakers. As such, the
volume of exports to the Zone has decreased as well as the number of companies housed there as
well.
3.2 Import Tariffs & Taxes
Import Tariffs
Tariff duties for exports from Trinidad and Tobago to Panama can be accessed here at ITC’s
Market Access Map: http://www.macmap.org/Main.aspx or exporters can contact exporTT’s
Export Market Research Centre (EMRC) for this information.
Taxes
Import Duty
o This is calculated using CIF (Cost, Insurance and Freight). Imports that have a FOB
(Free On Board) value amounting to less than USD 50 are exempt from duty.
Value-Added Tax (Sales Tax) known as the Transfers of Tangible Goods and the
provision of services (ITBMS)
o The standard rate is 7%. Special rates included 10% VAT applied to alcoholic
beverages, hotels and other lodging services and 15% applied to cigarettes, cigars
and other tobacco products. This rate is applied to the CIF value and the Duty.
o Goods exempted from VAT are:
Agricultural produce
Unprocessed fish, mean and game?
Exported goods
Medical and Pharmaceutical products
Books
Goods made in Colon Free Zone
Moveable goods within authorised customs warehouse
Oil and other related products, except motor oil
Groceries
Products utilised in agriculture
Administrative Charge for Customs
o This charge was recently amended by the Cabinet Council of Panama in May 2014
to the fee of USD 100 for a good with taxable value at customs equal to or greater
than USD 2,000. (Source: Central America Data)xii
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Selective Consumption Tax (ICS)
o This tax is applied to these specific goods, locally produced and/or imported:
Aerated and alcoholic beverages
Tobacco products
Cars and motorcycles
Vessels
Aircraft
Jewellery
Prizes won at slot machines
o The standard rate of ICS is 5% with the exception of tobacco products which is
taxed at 32.5% and alcohol which has a fixed rate on each percentage of alcohol
strength per litre. See Appendix II
(Source: WTO 2014)
3.3 Trade Barriers
Based on the World Economic Forum Enabling Trade Index, Panama ranked as the 3rd highest
performing country where trade is concerned of any Latin America and Caribbean country.
Despite its high performance in the index, its main trade barrier to importing goods into Panama
were the following:
Cost of domestic and international transportation to the market;
Tariffs
Burdensome standards and regulations procedures;
o exporTT’s Market Survey Mission to Panama actually uncovered that it takes
approximately 3-6 months to achieve standards and regulations compliance for
food and beverage products, where as it takes 1-2 years to do the same for a
chemical product. The testing procedures for chemical products are quite
burdensome and have deterred some of the distributors our Mission interviewed
from seeking chemical products prior to them having achieve full compliance.
Corruption
The recently signed Partial Scope Agreement between Trinidad and Tobago and Panama is
expected to remove a few of these trade barriers, namely tariffs, as many of our products have
been given some form of preferential treatment.
(Source: World Economic Forum 2014)xiii
3.4 Prohibited and Restricted Imports
There are no prohibited imports to Panama but certain goods require Phytosanitary or Special
purpose certificates.
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3.5 Trade Agreements
Date Agreement Type
1986 Mexico Partial Preferential Agreement
1987 Dominican Republic Partial Preferential Agreement
1995 Colombia Partial Preferential Agreement
2002 Central America (Costa Rica, Guatemala,
El Salvador, Honduras and Nicaragua) Free Trade Agreement
2004 Taiwan Free Trade Agreement
2006 Singapore Free Trade Agreement
2008 Chile Free Trade Agreement
2012 Peru Free Trade Agreement
2012 Central America – European Union Free Trade Agreement
2012 United States of America Free Trade Agreement
2013 Canada Free Trade Agreement (Source: OAS Trade Information Systems)
Trinidad and Tobago signed a Partial Scope Agreement with Panama in October 2013 which is
expected to be enacted by Parliament in Trinidad and Tobago in Fiscal Year 2015/16. The full
document can be found at http://www.ttparliament.org/legislations/a2015-05.pdf for the full
Partial Scope Agreement). Also, please pay attention to the following:
Annex A: List of products from Trinidad and Tobago on which Panama will grant
preferential treatment – Pages 19-36.
Annex B: List of products from Panama on which Trinidad and Tobago will grant
preferential treatment – Pages 37-58.
SECTION 4.0: MARKET CHALLENGES
4.1 Political Environment
As discussed in Section 2.6, many politicians and businessmen are now being called to answer
corruption charges. Therefore, it makes one’s affiliations important as any company doing
business with these individuals may face negative implications such as being blacklisted by the
business community. A considerable amount of caution should be utilised with past and present
business contacts.
4.2 Culture
Panama’s business culture is starkly different to that of Trinidad and Tobago. As with other Latin
American countries, status is an important element in doing business. Additionally, saying “yes”
publicly is considered to be a sign of politeness and less of an affirmative decision. This may be
Market Guide for Exporting Goods from Trinidad and Tobago to Panama Page 14 of 25
misleading when conducting business. Exporters are asked to be aware of this difference in
culture.
4.3 Price
While price inflation has been mentioned as an ongoing problem in Panama, the prices still
remain competitive. Multiple brands within the same product may be priced within $0.01 of each
other, and this difference is highly considered by the consumer. At present, the Partial Scope
Agreement with Panama has not been enacted by parliament. Until this time, transportation costs
into Panama will play a strong factor in determining the price of the products. Our market
research identified that the cost of transportation into Panama varies, but this variation is not
always caused by distance. For example, it costs USD 2,300 for a 20 ft. container from Chile while
it takes USD 3,600 for the same 20 ft. container from Costa Rica. Therefore, exporters are advised
to be aware of the transportation costs of their goods into Panama.
While transportation can impact your price, your price can impact how successful your brand
will be on the market. While Panamanians have traditionally been more brand conscious,
research has shown that they are willing to try certain new products if the price is right.1
4.4 Competition
When considering exporting to Panama, Trinidad and Tobago’s exporters should be aware of the
high level of competition on the market. The shelves of the grocery and the malls are stocked with
American, Chinese, Costa Rican and Chilean brands, just to name a few. As the main
transhipment hub to enter and leave Latin America and the Caribbean, the country has a plethora
of products flooding the market. This competition will make Trinidad and Tobago’s products one
of many, therefore, exporters are advised to do considerable research in identifying ways to
differentiate your product, whether it be on price, quality or design.
4.5 Taste Preference
Understanding the Panamanian consumer taste is important for all exporters. For food and
beverage exporters, understanding their palate will determine if your product will succeed in the
market. For non-food and beverage products, getting an appreciation for the motivations for
spending money will help you understand your market. Market research has highlighted that
spending habits and taste preferences differ by location, demographic and social classes. Not
understanding the niche your product fits into can be detrimental for your product, given the
high degree of options on the market available to consumers. Pre-market entry research is
important.
1 While the research has shown that they are willing to try new products, this principle does not extend to
food. Panamanians are very brand loyal and traditional when it comes to food as will be discussed in the
next sub-heading.
Market Guide for Exporting Goods from Trinidad and Tobago to Panama Page 15 of 25
4.6 Brand Loyalty
As previously mentioned, Panamanians are very brand conscious. They are also very brand loyal.
exporTT’s Market Survey to Panama uncovered that many persons buy particular products
because it was purchased in their household, and not necessarily because of quality. Panamanians
have been described as risk averse when it comes to trying new products. The willingness to
deviate from this tradition and try a new product, based on the interviews conducted in the
grocery stores, will require a unique method of advertising of promotion.
Methods to overcome this challenge is discussed in Section 6.0: Market Entry Strategy.
SECTION 5.0: TOP MARKET OPPORTUNITIES AND PROSPECTS
President Varela’s promise to increase the middle wage accompanied by other poverty alleviation
programs implemented by former President Martinelli, is forecasted to expand the middle class
and its purchasing power.
The prospects for Trinidad and Tobago’s exporters are heavily reliant on the Partial Scope
Agreement. While it was signed in 2013, it has not yet been enacted by the Parliament of Trinidad
and Tobago. Therefore, none of the concessions outlined in the Agreement is yet active. When the
Agreement becomes active, the cost of exporting will be significantly cheaper for many products
that will now have preferential access into the Panamanian market and may result in certain
products being able to be more price competitive. Our prospects in the market will be further
impacted by the effectiveness of the newly established Embassy in Panama City in creating much
needed awareness of Trinidad and Tobago.
Exporters who are interested in uncovering the opportunities that lie in the Agreement for their
products are asked to contact exporTT or the Embassy of Trinidad and Tobago in Panama for
further information. See contact information in Section 11.0.
SECTION 6.0: MARKET ENTRY STRATEGIES
6.1 Using an Agent or Distributor
Agents and distributors are still popular for those exporting to Panama. The agent can serve as a
Consultant by providing market intelligence, making contacts while introducing your product
onto the market and managing the price and image of your product. An agent is usually not a
distributor, therefore, the housing, transportation and distribution of products will still have to
be handed by a traditional distributor. The downside of the agent approach is that the exporter
may still be responsible for all paperwork relating to shipping, customs and tax. Therefore, this
approach is recommended for more experienced exporters. The role of a distributor varies
according to the terms of the distribution agreement. Nevertheless, both options require the
exporter to be vigilant of their brand in the foreign country.
Market Guide for Exporting Goods from Trinidad and Tobago to Panama Page 16 of 25
6.2 Joint Ventures/Licensing
Joint ventures are commercial agreements between two or more companies to share costs and
profits to achieve a common goal on mutual beneficial terms. In international trade, this practice
has been common between commercial entities in different countries to overcome barriers such
as distance, transportation cost and language barriers, to name a few. Joints ventures also allow
companies to pair with someone to overcome weaknesses within their company, and share
contacts and reputation in a market. Thorough background checks should be conducted prior to
engaging any person/company in a joint venture. These agreements are becoming more common
in Panama and there are no laws that regulate joint venture contracts yet.
A licensing agreement allows a foreign company to sell or produce another company’s goods in
their home country. Like joint ventures, licensing overcomes many barriers to trade. These
agreements have the added benefit of reducing production costs in certain circumstances. While
licensing agreements are required by law to be registered in accordance with Law 35, this has not
been regularly practiced. Additionally, any licensing agreement that involves any form of
intellectual property must be registered with the following:
Patents and trademarks – Industrial Property Department of the Ministry of Commerce
and Industries.
Copyright – Directorate General of Copyright at the Ministry of Education.
Any intellectual property being manufactured or traded in any Free Zone has a separate registry.
Exporters are advised to seek legal advice prior to pursuing any of these agreements.
SECTION 7.0: SELLING, MARKETING & PROMOTIONS
7.1 Selling Factors/Techniques
As with other Latin American countries, business in Panama depends heavily on personal
relationships. Therefore the business community in Panama places high importance on personal
contacts with foreign suppliers. Trinidad and Tobago exporters should be prepared to travel to
Panama periodically and follow up with customers regularly via telephone, Skype, email and fax.
Exporters should be mindful that a patient sales approach is preferred over a “hard sell”.
Additionally, focusing on price and quality are the main selling points for Panamanians, as
previously discussed.
Selling factors and techniques are described in the following five steps to master the selling
process.
Market Guide for Exporting Goods from Trinidad and Tobago to Panama Page 17 of 25
Steps Description
1. Greeting
You need to ‘arrest’ the buyer:
Pay attention to dress, hygiene, grooming, handshake, etc.
Treat the buyer’s business card with respect and present your
business card in a professional manner.
Speak clearly, paying attention to voice, tone, eye contact, etc.
Use correct titles and surnames.
Have a positive body language.
2. Ask questions to
understand the
prospect
Don’t rely on direct questions but ask leading questions in a
conversation type manner to find out the buyer’s need and what
he/she is looking for.
3. Present Benefits
Present the benefits of your product/s or service/s in a manner
that aligns them to the need of the buyer. Remember that in
addition to your good or service, the buyer is assessing YOU. For
e.g. Are you the kind of person he wants to do business with? Do
you convey trustworthiness and competence?
4. Handle Objections
If the buyer is not interested in your product/s or service/s, don’t
end the meeting in despair, remain calm. Instead, take the
opportunity to find out more about the market and their needs so
that you can possibly make adjustments to your product to suit
their needs.
5. Close
It is very important to know and agree on the next steps which
should include a thank you email which captures the essence of
the conversation and the activities that would follow.
Other Tips
Be prepared
Know your business and your products
Be confident
Be a persuasive negotiator
Confirm appointments at least 24 hours in advance and be on
time.
Prepare your marketing tools e.g. brochures, samples,
PowerPoint presentations, etc. and make them come alive
with images.
Take notes and bring a notetaker.
When using an interpreter, do not speak directly to the
interpreter as if the buyer is absent, however keep the
Market Guide for Exporting Goods from Trinidad and Tobago to Panama Page 18 of 25
7.2 Trade Promotion
Locally, exporTT offers trade promotion programmes periodically, including trade missions,
trade shows, trade fairs, matchmaking events, conferences, etc. These programmes are conducted
with a pre-approved budget and with an element of co-financing with the exporter for some
activities.
7.3 Advertising
One reality that Trinidad and Tobago’s exporters must face is that Trinidad and Tobago is not as
well-known country for Panamanians. Furthermore, it is even more unknown that we have a
diverse manufacturing base. Therefore, advertising for exporters will have to differ from that of
exporters from more well-known countries like the US, Chile or Costa Rica, to name a few. Some
of this work is being handled by the Embassy of Trinidad and Tobago, Panama City, and it is
recommended that exporters meet with this Mission to build on work already done in the market.
Where Trinidad and Tobago’s products are concerned, market research uncovered that the best
method for advertising is free sampling which should be done prior to the introduction of the
product on the shelves. The ‘free’ element will attract consumers, who are both traditional and
averse to new products. It will also assist in gauging the potential for a product in the market.
Exporters, you are advised to discuss promotion and advertising strategies with your agent or
distributor prior to signing any agreement, as these individuals are the main advocates for your
product in the market. The terms for promotion and advertising agreed to may be a critical factor
in determining a product’s success in the market.
7.4 Electronic Commerce
exporTT’s Market Survey to Panama uncovered that eight out of ten Panamanians use the
internet to source their product and services as opposed to the television. Most stores in Panama
have a web presence for purchasing but it does not always include the full array of products
available in the store. Unfortunately, electronic commerce has not been shown to be effective
where new products are concerned due to the factors discussed in Section 4.0: Market Challenges.
7.5 Distribution and Sales Channels
For food and beverage products, importers act as both distributors, wholesalers and at times,
retailers. This is usually the case as importing goods is a much easier and less time consuming
procedure. For industrial goods, distributors and agents are separate entities to retailers of the
products.
Market Segmentation
Rosanno V. Gerald presented in “Panama’s Low-Income Consumers’ Brand Loyalty Panamanian
Consumers” (2001) found that Panama’s lower class are either brand loyal or store loyal.
conversation focused on the buyer and allow the interpreter
to interpret accordingly.
Market Guide for Exporting Goods from Trinidad and Tobago to Panama Page 19 of 25
exporTT’s Market Survey found that the middle class is more price conscious and are willing to
try another brand if the price is cheaper. However, the upper class was found to be more
concerned with quality and this made them brand loyal to major international brands. In the
upper-class stores, there is a more gourmet approach towards retail with more focus on the
cosmetic aspects of the store’s layout, superior customer services and a wider variety of
international brands and ethnic products.
As previously mentioned, exporters should identify their preferred market segment as part of
their entry strategy and manipulate the product to suit the preferences of the consumer.
7.6 Pricing
The pricing for Panama includes the following elements:
CIF
Duty
VAT
Administrative Customs Fee
Distribution mark-up (20-30%)
Cost of product introduction to retail2
Retail mark-up (+25%)
7.7 Shipping Information
The table below represents the average cost of shipping a 20ft and 40ft container to Panama with
an estimated transit time of 5 days.
* Rate valid 1 month
* Rates are quoted in USD
* Port - Point Lisas Port
7.7 Due Diligence
Before finalizing any contract whether for sale or representation, Trinidad & Tobago exporters
should obtain information on the bona fides of Panamanian firms including reliable business and
financial references.
Also, because of the language difference between Trinidad & Tobago and Panama, this presents
opportunities for serious miscommunication and misunderstandings and sometimes with grave
consequences which you would want to avoid. Therefore when entering into business with
2 Distributors have to pay retail stores a fee for introducing new products per unit item introduced.
Description 20 ft 40 ft
Ocean Freight 700.00 1,150.00
Terminal Handling Charge 229.00 229.00
Bunker Surcharge 375.00 750.00
Local Administration Charge 51.75 51.75
Total 1,355.75 2,180.75
Market Guide for Exporting Goods from Trinidad and Tobago to Panama Page 20 of 25
Panamanian companies, it is imperative to utilize the services of a competent bi-lingual attorney
to avoid communication failures.
7.8 Culture and Etiquette
The People
The influence of the United States of America in Panama has caused Panamanians to be sensitive
in this regard. As such, be mindful not to remark that Panamanians are “Americanized” or refer
to U.S. Citizens as “Americans” since everyone from North, Central and South American share
the title of American.
Corporate Culture
Punctuality is expected in business circles, especially with foreigners, although it may not
be strictly applied to in other matters.
Panamanians usually use the day, month, year format, which is the conventional form for
South America.
Business negotiations normally proceed much slower than in Northern Europe and North
America, so be prepared for delays and also to travel to Panama more than once to finalize
a deal.
Bargaining is common, so set your price at a level to allow for this.
Panamanians are very high on respect and dignity for people, therefore it is very
important not to criticize or cause embarrassment to a person in public.
Knowledge of Panamanian history, sites, culture and art will definitely impress your
business counterparts.
Dining and Entertainment
Never be on time for a party. It is deemed appropriate to arrive up to half hour late if you
are alone or up to one hour late if you have several guests to a dinner party. Also, up to 2
hours late is appropriate for large parties.
The spouses of foreign businesswomen should always be included for business dinners.
Dress
While in theory, men should wear a conservative business suit for work, in practice,
jackets and ties are not used. However businessmen in higher positons often wear suits.
A skirt and blouse or a dress is appropriate for women, however, revealing clothing
should be avoided.
Gifts
After the first few meetings or if invited to a Panamanian home, appropriate gifts include
something indigenous to Trinidad and Tobago, the latest electronic gadgets, expensive
liquor or chocolates.
Market Guide for Exporting Goods from Trinidad and Tobago to Panama Page 21 of 25
Helpful Hints
Don't offer your opinions about local politics or religion.
Especially for Women
Women in high managerial positions is rare in Panama so that foreign women should
emphasize that they are part of a team from a company who has a major interest and is
strongly committed to doing business with the Panamanian company.
If a woman is paying for a business dinner with male clients, she should make
arrangements with the restaurant privately as the men would insist on paying for the
meal.
(Source: Morrison and Conaway)xiv
SECTION 8.0: REGULATIONS AND STANDARDS
8.1 Sanitary Product Registration
In order to import food, beverage, drugs and chemicals into Panama the following are required:
Power of Attorney
Permit issued by the Health Authority of the country of origin, not more than 1 year prior
to application
For all inquiries, please contact a licensed customs broker or AUPSA.
The following information must be submitted to receive certification:
A list of ingredients as a percentage of total with them listed from highest value to lowest.
Quantitative information regarding additives must also be submitted. This document
must be issued by the authorized signatory of the manufacturing company.
Shelf Life: Expiration Date
Original Tags: Listing the usage, warnings and pre-cautions which must be listed in
Spanish
Code and it’s interpretation
Specific size containers
8.2 Samples
Please engage the services of a licenses customs broker for advice and assistance on the shipping
and samples.
8.3 Packaging, Labelling and Marking Requirements
Packaging requirements are in Article 54 of Law Degree 11 of February 22, 2006. The law requires
that all food products must be registered by the Panamanian Food Safety Authority (AUPSA)
prior to beginning the importing process. Labelling requirements are outlined in Article 36 of
Law 45 of October 31, 2007. The label of certain imported goods can be of the language of origin
Market Guide for Exporting Goods from Trinidad and Tobago to Panama Page 22 of 25
of the product, but the contents and instructions for its use must be in Spanish and stuck on the
packaging. The following products must have labels in Spanish:
Medicines
Agricultural Chemicals
Toxic Products
Food products with rare specific instructions for use or risks to human health
8.4 Customs Regulations
While it is not necessary, it is advised that exporters utilise the services of a licensed customs
broker to facilitate the movements of goods into Panama. The following documents are required
for exporting to Panama:
Import Declaration (This document must be approved and signed by an authorised customs
broker)
Commercial Invoice
Airway Bill
Bill of Lading (triplicate)
Commercial License Number (of the commercial entity receiving the merchandise)
Phytosanitary Certificate
Authorisation from the Panamanian Food Safety Authority (AUPSA) if applicable
Certification of Free Sale, if applicable (those products for human consumption)
Certificate of Origin
SECTION 9.0: TRADE EVENTS AND FAIRS
Expocomer is a three day annual trade fair that also provides a Business-to-Business platform.
The next scheduled fair is March 2016 and more information can be found at:
http://www.flipsnack.com/58CBAEEC5A8/catalogo-expocomer-2014.html
Market Guide for Exporting Goods from Trinidad and Tobago to Panama Page 23 of 25
SECTION 10.0: FINANCING EXPORTS TO PANAMA
exporTT Limited provides co-financing options (50% reimbursement) for the following market
access activities:
a. Product Registration
b. Trademark Registration
c. Product Testing
d. Translation & Interpretation Services
e. Legal representation for product, brand and trademark registration
f. Booth rental at trade shows
g. Business to business matchmaking services
h. Shipping of samples
i. In-store marketing and promotions
j. Booth design at trade shows
k. Ground transportation for exporTT led groups at trade missions and trade shows
l. Brand registration
m. Label modification
n. Registration at international capacity building forum/workshop
Please contact the following person or any other exporTT representative for more information on
these services:
Mr. Crisen Maharaj
Manager- Capacity Building and Programme Financing
exporTT Limited
151B Charlotte Street
Port of Spain
Tel.: (868) 623-5507 Ext. 362
Fax: (868) 625-8126
Mobile: (868) 796-4276
Email: [email protected]
Website: www.exportt.co.tt
In addition to local banks, to obtain information on financing exports to Panama, please contact:
Mr. Shaun Waldron
Manager, Credit & Business Development
Export Import Bank of Trinidad & Tobago Limited
#30 Queen's Park West,
Port of Spain
Phone: 1-(868)-628-2762 Ext. 288
Fax: 1-(868) -628-9370
Email: [email protected]
Website: www.eximbanktt.com
Market Guide for Exporting Goods from Trinidad and Tobago to Panama Page 24 of 25
SECTION 11.0: USEFUL CONTACTS
11.1 Trinidad and Tobago
Office Contact Information
exporTT Limited
Jamila Greene (Ms.)
Export Officer
151B Charlotte Street
Port of Spain
Tel: 1-868-624-3932 Ext. 234
Fax: 1-868-625-8126
Email: [email protected]
Web: www.exportt.co.tt
Panamanian Embassy
Panamanian Embassy in Port-of-Spain, Trinidad and Tobago
25 De Verteuil Street
Woodbrook
Port-of-Spain
Trinidad and Tobago
Telephone: 1-868-628-9956; 1-868-628-9957
Fax: 1-868-622-8992
Email: [email protected]
Head of Mission: Arline Gonzalez Costa, Ambassador
Customs & Excise
Division
Customs and Excise Division
Ministry of Finance
Custom House
Nicholas Court
Cor. Abercromby Street and Independence Square
Port of Spain
Phone: (868) 625-3311-9 Ext 335-8
Shipping Agencies
Shipping Association of Trinidad & Tobago
15 Scott Bushe Street, Port of Spain
Phone: (868)625-2388, (868)623-3355
Fax: (868)623-8570
Email: [email protected]
Web: http://shipping.co.tt/member%20search.php?id=1&page=1
Translation Services A list of translation and interpreting agencies can be found in
Appendix IV.
Market Guide for Exporting Goods from Trinidad and Tobago to Panama Page 25 of 25
11.2 Panama
Office Contact Information
Embassy of the Republic
of Trinidad and Tobago
Mr Gerard Greene
Head of Mission
Embassy of the Republic of Trinidad and Tobago
Edificio Torre Global
Piso 32, Oficina 3201
Calle 50 y Calle 58 Este
Panamá
República de Panama
Phone: 011 (507) 388-5800
Email: [email protected]
Ministry of Finance and
the Economy
Ministry of Finance and the Economy
Avda. Perú
Address Postal: Area Code 2694 Zona 3 Panamá
Tel: 269-4133; Telefax: 269-6822
Email: [email protected]
Web: www.mef.gob.pa
Ministry of Agricultural
Development
Ministry of Agricultural Development
Animal Health
Calle principal Curundú
Tel: 266-2303/1812; Telefax: 266-2943
Web: www.mida-dinasa.gob.pa
Email: [email protected]
Ministry of Health
Ministry of Health – Food Safety Department
Antiguo Hospital Gorgas
Tel: 212-9180;
Web: www.minsa.gob.pa
General Comptroller of
the Republic
General Comptroller of the Republic
Avda. Balboa y Federico Boyd.
Address Postal: Area Code 5213 Zona 5, Panamá
Tel: 264-0777. Telefax: 269-7294
Web: www.contraloria.gob.pa
Ministry of Industry and
Commerce
Ministry of Industry and Commerce
Address Postal: Area Code 9658 Zona 4, Panamá
Tel: 227-4222. Telefax: 227-4134
Web: www.mici.gob.pa
e-mail: [email protected]
National Bank of
Panama
National Bank of Panama
Torre Banconal Vía España y C/55
Address Postal: Area Code 5220 Zona 5, Panamá
Market Guide for Exporting Goods from Trinidad and Tobago to Panama Page 26 of 25
Office Contact Information
Tel: 263-5151; Telefax: 223-3205
Web: www.banconal.com.pa
Panamanian Tourism
Institute
Panamanian Tourism Institute (IPAT)
Vía Israel, San Francisco
Tel: 226-7000. Telefax: 226-4614
Web: www.ipat.gob.pa
Colón Free Zone
Colón Free Zone
Address Postal: Area Code 1118 Administración Zona Libre de
Colón
Tel: 441-5794/7580
Fax: 445-2165/2661
Email: [email protected]
Web: www.zonalibredecolon.com.pa
Appendices
Appendix I – Price Controls implemented from 1st July, 2014
No Product Description Minimum
retail price
(per lb)
Minimum
retail price
(per lb)
Gross margin
on retail
marketing cost
1 Babilla $2.87 $6.33
Incorporated in
the maximum
retail price
2 Steak T-Bone $2.45 $5.40
3 Ground beef (Excludes special and low
fat options)
$2.00 $4.41
4 Jarrette $2.30 $5.07
5 Steak Breast – Not premium $0.75 $1.66
6 Full National Chicken $1.18 $2.60
7 Pork Chop $1.90 $4.19
8 Premium Rice 1lb/5lbs $0.40/$2.00 $0.88
9 Yellow Onion (jumbo size not included) $0.60 $1.32
10 Yuca (Cassava) $0.28 $0.62
11 Local Potatoes $0.60 $1.32
12 Local Tomatoes $1.08 $2.39
13 Yuca (Cassava) $0.28 $0.62
14 12 Medium Size eggs (organic eggs not
included)
$1.87 N/A 10%
15 Power Milk, evaporated (360g) $3.76 N/A 10%
16 Lentils $0.56 $1.23 10%
17 Spaghetti (350g) $0.59 $1.23 10%
18 White Bread – 24 Slices (Does not include
jumbo size, raisin or wheat bread)
$0.92 N/A 10%
19 Local Kidney Beans $0.96 $2.13 10%
20 American Cheese $0.10 N/A 15%
21 Hotdogs (not including frankfurters,
smoked or specially processed cuts)
$1.19 $2.62 15%
22 Tuna in Water $1.02 N/A 10% (Source: http://www.gacetaoficial.gob.pa/pdfTemp/27568/GacetaNo_27568_20140701.pdf)
Appendix II – Selective Consumption Tax (ICS)
Product Rate Exemptions
Aerated beverages 5%
Syrups or concentrates used in the
production of aerated beverages
6%
Rectified alcohol, rum, whisky or gin B 0.035a
Domestically produced spirits
distilled from sugar cane, honey,
cane syrup, molasses and maize
aged for four years receive a rebate
of 10% of the value of the tax; a
further rebate of 5% for each
additional year of aging; the total
rebate may not exceed 40%. Alcohol
used in pharmaceutical
preparations; chemical products;
fuels; dyes and perfumes
Beer
Tobacco products (incl. cigarettes)
B 0.325b
32%
Non-alcoholic beers and liquid
extracts of malt that do not contain
more than 0.5% of alcohol by
volume
(Source: WTO Trade Policy Review, 2012)
Appendix III – Buyers & Distributors
Company: HERMANOS ZAKAY, S.A.
Tel.: (507) 236-1467 Fax: (507) 236-1408
Address: CALLE 2DA. LA LOCERIA
Area Code: 8242 ZONA 7
Province: PANAMA Country: PANAMA
Web: www.hermanoszakay.com
E-mail: [email protected]
Contact: Isaac Zakay (Gerente)}
Company: IMPORTADORA Y EXPORTADORA HERMANOS GAGO, S.A.
Tel.: (507) 271-0044 Fax: (507) 271-0048
Address: PARQUE INDUSTRIAL, COSTA DEL ESTE, CALLE 2ª
Area Code: 9090 ZONA 6
Province: PANAMA Country: PANAMA
E-mail: [email protected]
Contact: José Alfonso Gago Salinero (Gerente)
Company: IMPORTADORA RICAMAR, S.A. (SUPER 99)
Tel.: (507) 221-2022 Fax: (507) 221-1749
Address: CALLE 16, RIO ABAJO (SUPER 99 DE MONTE OSCURO)
Area Code: H ZONA 4
Province: PANAMA Country: PANAMA
Web: www.super99.com
Contact: Eduardo Martinelli (Vicepresidente de compras)
Company: RIBA - SMITH, S.A.
Tel.: (507) 229-3999 Fax: (507) 229-1006
Address: VIA SIMON BOLIVAR, URB, HERBRUGER
Area Code: 204 PANAMA 9A
Province: PANAMA Country: PANAMA
Web: www.rimith.com
E-mail: [email protected]
Contact: Julio Valdés (Director de compras)
Company: TAGAROPULOS
Tel.: (507) 360-0316/40 Fax: (507) 360-0354
Address: LA LOCERÍA, CALLE RICARDO J. ALFARO
Area Code: 4000 ZONA 6
Province: PANAMA Country: PANAMA
Web: www.tagaropulos.com
E-mail: [email protected]
Contact: Sandra Elisa Salcedo (Gerente de compras)
Company: BELLO DISTRIBUTION CORPORATION
Tel.: (507) 223-4466 / 223-4467 Fax: (507) 223-5523
Address: EDIF. BAHIA BALBOA – MEZZANINE-PLANTA BAJA
Area Code: 55-0031 PAITILLA
Province: PANAMA Country: PANAMA
E-Mail: [email protected]
Contact: Sally de Salermo (Gerente)
Company: BROSTELLA, S.A.
Tel.: (507) 261-7294 Fax: (507) 261-3800
Address: EDIF. AGENCIAS BROSTELLA. CALLE JORGE ZARAK
Area Code: 729 ZONA 1
Province: PANAMA Country: PANAMA
E-Mail: [email protected]
Contact: Miguel Brostella Novey (Presidente)
Company: DISPAL
Tel.: (507) 217-3777 Fax: (507) 217-6046
Address: VÍA TOCUMEN, SAN CRSITOBAL, CALLE LA CANTERA
Area Code: 6-2462 EL DORADO
Province: PANAMA Country: PANAMA
Web: www.varelahermanos.com
E-mail: [email protected]
Contact: Mario L. Cucalón
Company: DISTRIBUIDORA CANAVAGGIO (EL TASTEVIN)
Tel.: (507) 229-3411 Fax: (507) 229-3325
Address: VIA PORRAS Y CALLE 64 A
Area Code: 601, ZONA 9A
Province: PANAMA Country: PANAMA
E-Mail: [email protected]
Contact: Jack Canavaggio (Gerente)
Company: DOPISA
Tel.: (507) 265-4703 Fax: (507) 264-7529
Address: CALLE E. A. MORALES
Province: PANAMA Country: PANAMA
E-mail: [email protected]
Contact: Willy Diggelmann
Company: FELIPE MOTTA
Tel.: (507) 271-5555 Fax: (507) 271-0019
Address: COSTA DEL ESTE, URBANIZACIÓN INDUSTRIAL
Area Code: 8406 ZONA 7
Province: PANAMA Country: PANAMA
Web: www.felipemotta.com
E-mail: [email protected]
Contact: Luis J. Castillo (Gerente de compras)
Company: GLOBAL BRANDS
Tel.: (507)265-1444 Fax: (507) 265-1448
Address: VIA BRASIL, NO. 47, AL LADO DISPLAY PLAZA
Area Code: 5075 ZONA 5
Province: PANAMA Country: PANAMA
Contact: Raul Motta (Gerente)
Company: ALMACEN EL MACHETAZO
Tel.: (507) 227-3222/227-3014 Fax: (507) 227-3405
Address: AV. CENTRAL, 13-81
Area Code: 2587 ZONA 3
Province: PANAMA Country: PANAMA
E-mail: [email protected]
Contact: Lilian Pool (Gerente)
Company: CASA DE LA CARNE
Tel.: (507) 264-6166 Fax: (507) 265-0565
Address: EL CANGREJO CALLE F
Area Code: 6550 ZONA 7
Province: PANAMA Country: PANAMA
Web: www.casadelacarne.com
E-mail: [email protected]
Contact: Aldo Mangravita (Gerente)
Company: IMPORTADORA Y EXPORTADORA NIMAR
Tel.: (507) 222-0528 /0503 Fax: (507) 222-0445
Address: AVENIDA 1ª, PARQUE LEFEVRE
Area Code: 55-0673 PAITILLA
Province: PANAMA Country: PANAMA
E-mail: [email protected]
Contact: Nikos Mamay (Presidente) Marcas españolas: Maestranza
Company: LICORES FLORENCIA, S.A.
Tel.: (507) 221-9111 Fax: (507) 221-6611
Address: VIA ESPAÑA Y CL.95 CARRASQUILLA
Area Code: 7323 ZONA 5
Province: PANAMA Country: PANAMA
E-mail: [email protected]
Contact: Eduardo Lao (Gerente)
Company: SWIFT & COMPANY
Tel.: (507) 236-2711/236-2825 Fax: (507) 236-3917
Address: CL. J, URB. IND. LOS ANGELES
Area Code: 9055 ZONA 6
Province: PANAMA Country: PANAMA
E-mail: [email protected]
Contact: Raúl Rodríguez (Gerente) Marcas españolas: Fragata
Company: H. TZANETATOS INC.
Tel.: (507) 220-1977 Fax: (507) 220-5143
Address: VIA TOCUMEN
Area Code: 6625 ZONA 5
Province: PANAMA Country: PANAMA
Web: www.tzanetatos.com
E-mail: [email protected]
Contact: Alberto Paz Rodríguez (Gerente)
Company: IMPORTADORA Y EXPORTADORA HERMANOS GAGO, S.A.
Tel.: (507) 271-0044 Fax: (507) 271-0048
Address: PARQUE INDUSTRIAL, COSTA DEL ESTE, CALLE 2ª
Area Code: 9090 ZONA 6
Province: PANAMA Country: PANAMA
E-mail: [email protected]
Contact: José Alfonso Gago Salinero (Manager) Baquero, El Prado
Company: HERMANOS ZAKAY, S.A.
Tel.: (507) 236-1467 Fax: (507) 236-1408
Address: CALLE 2DA. LA LOCERIA
Area Code: 8242 ZONA 7
Province: PANAMA Country: PANAMA
Web: www.hermanoszakay.com
E-mail: [email protected]
Contact: Isaac Zakay (Gerente)
Company: AGENCIAS ESCOFFERY, S.A.
Tel: (507) 222-4851 Fax: (507) 224-8751
Address: CL. 4 PARQUE LEFEVRE
Area Code: 9677
Province: PANAMA 9 Country: PANAMA
Web: www.agenciasescoffery.com
E-mail: [email protected]
Contact: Tomás Francisco Guardia (Gerente)
Company: AGENCIAS FEDURO, S.A.
Tel.: (507) 236-3333 Fax: (507) 236-3371
Address: AVE. RICARDO J. ALFARO, CL. MIGUEL BROSTELLA
Area Code 6-3941EL DORADO
Province: PANAMA Country: PANAMA
Web: www.feduro.com
E-mail: [email protected]
Contact: Félix B. Maduro (Gerente)
Company: AGENCIAS LUGO, S.A.
Tel.: (507) 229-6253 Fax: (507) 229-6354
Address: EDIFICIO PLAZA AGORA - PUEBLO NUEVO
Area Code: 11130-6
Province: PANAMA Country: PANAMA
E-mail: [email protected]
Contact: Leo González (Gerente)
Company: DONALD W. DICKERSON, INC.
Tel.: (507) 229-1555 Fax: (507) 229-3548
Address: AVE. SIMÓN BOLIVAR Y 12 DE OCUBRE
Province: PANAMA Country: PANAMA
E-mail: [email protected]
Company: GRUPO BARSASH, S.A.
Tel.: (507) 221-5574/ 3524 Fax: (507) 221-5777
Address: CALLE 5ª PARQUE LEFEVRE
Area Code: 0816-2760
Province: PANAMA Country: PANAMA
E-mail: [email protected]
Contact: Dylian Villareal (Gerente) Marcas españolas: Diamante
Company: H. TZANETATOS INC.
Tel.: (507) 220-1977 Fax: (507) 220-5143
Address: VIA TOCUMEN
Area Code: 6625 ZONA 5
Province: PANAMA Country: PANAMA
Web: www.tzanetatos.com
E-mail: [email protected]
Contact: Alberto Paz Rodríguez (Gerente)
Appendix IV – Public Translators & Interpreters
CONTACT LANGUAGE
Mr. Luis Arreaza
# 38 Carlos Street, Woodbrook
Tel: 764-8683
French
Spanish
Mr. Chantale Leonard-St. Clair
Director (Ag.)
Translation & Interpreting Services Unit
College of Science Technology and Applied
Arts of Trinidad and Tobago (COSTAAT)
Tel: (868) 625 5030 Ext. 5270
Fax: (868) 627 5714
E-mail: [email protected];
French
Spanish
Portuguese
Dutch
German
Mr. David Coutisson
Director
THE ALLIANCE FRANÇAISE
# 17 Alcazar Street, Port of Spain
Tel: 622-6119/6728
French
Eric Maitrejean
CITB Coordinator
Caribbean Interpretation & Translation Bureau
University of the West Indies
St. Augustine Campus, St. Augustine
Tel: 662-0758
Email: [email protected]
French
Spanish
Arabic
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