They are looking for new markets for exports.
Business owners agreed that they are working on diversifying and strengthening the export offer to reach other destinations.
Exporters are exploring new markets and customers, looking towards Argentina, Brazil, Paraguay, Uruguay, the Netherlands, Belgium, and Germany, said sector members.
However, they noted that Panama must strengthen the diversification and value-added aspects of its export offer. Additionally, there is a need to minimize bureaucracy and enable food processing plants, which are still pending.
Bianca Morán, president of the Panamanian Exporters Association (APEX), acknowledged that there is «a great opportunity» with «the European Union’s legislation on deforestation-free products.» Panama already complies with all the requirements of this legislation, and the only thing left to do is digitalize; this is an opportunity.»
The businesswoman emphasized that in the Scandinavia region, there is potential because these countries face challenges related to food security and goods supply due to climate issues.
Meanwhile, Rosmer Jurado, a member of APEX’s board of directors, stated that Europe is «a great market, as long as Panama ventures into the value-added segment.»
Jurado mentioned that «we have a treaty with Israel, and we could take advantage of that opportunity.» He also highlighted that «specialty coffee is one of the leading products arriving in Europe, but we could, for instance, turn tropical fruits into finished products, such as pineapple concentrate.»
Both agreed that products like bananas, shrimp, fish, coffee, rum, and teak wood, among others, have found strategic markets in countries like the United States, the Netherlands, Taiwan, India, and China.
However, Panama still relies «too much» on basic products and must shift towards exporting goods with higher added value and differentiation, as seen in products like medicines, detergents, custom liquors, and specialized packaging.
Carlos Hoyos, Deputy Minister of Foreign Trade, highlighted the importance of opening up MERCOSUR, as it includes four member markets with massive consumption. This could represent a significant increase in exports, not just of goods but also of services. «We want to consolidate our position in Asian and European markets,» he stated.
Biography of Bianca Morán
Bianca Morán has been the manager of Ecotopia Teak since 2012, a wood processing company. She is the creator of Panama Teak Sustainable Forestry, a registered brand for promoting and marketing Panama’s certified teak. The brand debuted on March 15, 2022, at the Dubai Woodshow and won the 2023 Commitment CSR award for sustainable business development.
The export sector generates over 100,000 jobs, but currently, there are 24,000 fewer salaried workers than in 2012. 73% of local exports are shipped via maritime routes.
About us
Ecotopia Teak, S.A., we are a family-owned company dedicated to reforestation, harvesting, and exporting wood from commercial plantations. We work under high production standards and with social responsibility to obtain high-quality wood according to the needs and demands of national and international markets. Additionally, we actively contribute to the local economy by creating employment opportunities in the communities where we operate. Our commitment is to lead the industry in sustainable reforestation and wood production, preserving our natural resources and building a greener and more sustainable future.
