Panama Embassy official writes about promoting US-Panama trade ties

Guest blog by Franklin Morales, Head of Commercial and Economic Affairs at the Embassy of Panama in the United States.

A few years ago, I became a diplomat of my country in the United States.  Over time, I gained more responsibility until I became the Head of the Commercial and Economic Section. I am responsible for investment promotion and building partnerships with the American private sector. Although I had previous experience in partnership building, I realized I needed additional tools to tackle some of the policy challenges I was facing.  I wanted to affect change and create public value, but I was uncertain about how to proceed.

Over the last 20 years, Panama has been a success story in terms of economic growth. The country attracted over 150 multinational headquarters, and its income per capita almost tripled in the same period. Although Panama made significant progress in reducing inequality while growing, distribution of income and opportunities remains a challenge in the eyes of most of its citizens and leaders.  Furthermore, growth in the last few years has stagnated, bringing a heightened risk of social dissatisfaction. The same risk that has affected other countries in the region. That is why Panama’s leaders want to promote growth through different avenues.  Two of those strategies include the Digital Hub Strategy and the Advanced Manufacturing Strategy. Both seek to diversify Panama’s exports to advanced sectors. Although these are not the only efforts in place, they are the ones that relate most to my job.  

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