Three foreign ministerial visits in a span of one year belies the geographical fact that India and Panama are separated by a physical distance of 15000 Kms.
Foreign Minister of Panama Janaina Tewaney finished a short but highly dense visit to India. She was invited as a speaker at the Raisina Dialogue, which is India’s flagship geopolitical conference supported by the Policy Planning Division of the Ministry of External Affairs.
At an interaction organised by Ananta Centre and Indiaspora in New Delhi, Minister Janaina Tewaney Mencomo, shed light on the evolving dynamics of Panama-India relations and India’s growing influence in Latin America.
The 39-year-old is currently the youngest serving foreign minister in the Americas and in January 2023, she became the first Panamanian foreign minister to travel to India in 15 years.
Minister Tewaney took the opportunity to delve into the deep historical connections that bind India and Panama together. She highlighted the migration of Indians to Panama during the construction of the railroad and the Panama Canal in the 19th century, which played a pivotal role in shaping the cultural landscape of Panama. “The presence of a Hindu temple and a Gurdwara in Panama serves as a testament to the enduring cultural ties between the two nations, resonating with the shared heritage and traditions,” she told a group of intellectuals in New Delhi.
With over 15,000 Indians calling Panama home, Minister Tewaney underscored the strategic significance of Panama as a gateway to Latin America. She envisioned Panama playing a pivotal role in facilitating trade and fostering economic cooperation between the Caribbean and India, leveraging its established infrastructure and extensive banking services to enhance connectivity and promote bilateral trade.
Acknowledging past political differences, both India and Panama are committed to exploring new avenues for deeper economic collaboration. Bilateral trade between the two nations has been steadily growing, reaching $597.91 million in 2022-23. This trade covers a wide range of products including minerals, textiles, pharmaceuticals, and engineering items, reflecting the diverse economic interests and complementarities between the two economies.
Interestingly, some of the largest retail goods chains are owned by Indian origin people. The bilateral trade between India and Panama has crossed USD 600 Million between April to December 2023, notably the bilateral trade was USD 597 in the last financial year. A large Indian Business delegation visited Panama in October last year and Royal Enfield opened its showroom.
Panama’s recent enactment of a new Medication law presents fresh opportunities for collaboration, particularly in the pharmaceutical sector, where India’s expertise in manufacturing high-quality medicines is widely recognized and valued.
Looking ahead, Minister Tewaney identified pharmaceuticals and technology as key areas for further collaboration. Panama aspires to become a pharmaceutical hub and a technology leader in the Americas, drawing inspiration from India’s remarkable achievements in these fields. Both countries are gearing up for elections, and there is a shared recognition of the importance of maintaining momentum in bilateral relations and further deepening mutual understanding and cooperation.
Beyond economic ties, Minister Tewaney emphasized the importance of shared values and goals in fostering a strong India-Panama relationship. She commended India’s pragmatic foreign policy approach and underscored the need for sustained engagement to deepen mutual understanding and cooperation across various sectors. Her remarks on empowering women in politics resonated as a call to action for greater inclusivity and participation, reflecting the shared commitment to promoting gender equality and women’s empowerment.
The Panamanian economy continues to be mainly a services sector-oriented economy that heavily relies on the Panama Canal; tourism inflows, banking transactions undertaken by the massive banking, and extensive re-export of commercial merchandise undertaken by various companies located in Panama’s Colon Free Trade Zone.
As India emerges as a key player in new trade routes and maritime affairs, Minister Tewaney’s visit underscored a commitment to nurturing a strong and enduring partnership between India and Panama. Continued dialogue and collaboration between the two nations hold the promise of shared prosperity and regional stability, paving the way for a brighter and more interconnected future for both countries and their people.