Panama offers its maritime network to businesses in Tamil Nadu

The unparalleled connectivity, professionalism and platform that Panama possesses can be used by Tamil Nadu brands and companies to promote their products and expand their markets, said Alonso Correa Miguel, Ambassador of Panama to India.

Panama is a natural bridge between North and South America and a logistical link between the Pacific and Atlantic oceans, he said while talking to businessmen in Chennai on Friday (Oct 23, 2026). Marine and pharmaceutical businesses from Chennai explored opportunities in Panama and the Latin American region at an event titled “The Panama Advantage – Maritime and Pharmaceutical Gateway to Latin America”.

Panama links world trade through a canal, the Colón Free Zone, one of the largest shipping registries, and a dollar economy serving 20 Latin American markets. “Tamil Nadu, with an economy about four times the size of Panama, exported goods worth around $59 billion in 2025-26 and accounted for a third or more of India’s electronics and vehicle exports. Panama can provide Tamil Nadu manufacturers with a one-stop base for Latin America. Tamil Nadu can provide Panama with cargo for its canal and new free zones for its flagship terminals,” Mr Miguel told the tenant.

He made an elaborate presentation noting that Panama, with both the Pacific and Caribbean coasts, hosts five of the top 10 ports in Latin America. These ports cover more than 20 international shipping companies operating from Panama and offer direct cargo services to 152 ports in 54 countries.

The Panama Canal alone handles 2.3% of global trade and connects 1,920 ports around the world through 180 sea routes serving approximately 170 countries. The Panama Canal, a key shipping route, handles more than 423 million PC/UMS tons of cargo annually. Ports such as Manzanillo and Balboa handle 9.4 million TEUs annually.

Mr. Miguel said companies operating in Panama seeking to export their products from any of the country’s more than 23 free zones or special production zones and regimes could benefit from a number of tax incentives designed to boost production. In addition, Panama has signed 23 trade agreements covering 59 countries, 11 of which are in the Americas. “This allows companies that operate from Panama to bring their products to these markets without facing import taxes,” he said.

Published – 23 Oct 2026 16:16 IST