In response to Trump's threats to restore US authority over the canal, Panama's President, Jose Raul Mulino, sought backing from other leaders to protect the country's strategic waterway. On Monday, Mulino met with three Panamanian leaders who, in a joint statement, reaffirmed Panama's sovereignty and independence of the canal.

Panama President Rallies Support For Canal After Trump Threat

Washington, US
Eric Trump recently shared a post on the social media platform, X featuring his father, Donald Trump, humorously depicted as "buying" Canada, Greenland, and the Panama Canal through Amazon. 
The image shows Donald Trump scrolling on his phone, adding the three territories to his cart. Eric captioned it, “We are so back.”  
Also read |  <a href="https://www.wionews.com/world/trump-says-us-subsidies-to-canada-make-no-sense-suggests-canada-become-51st-us-state-785043">Trump says US subsidies to Canada make no sense, suggests it become 51st US state</a>
On Wednesday (Dec 18), Trump had proposed that Canada should join the United States. “No one can answer why we subsidize Canada to the tune of over $100,000,000 a year? Makes no sense! Many Canadians want Canada to become the 51st State. They would save massively on taxes and military protection. I think it is a great idea. 51st State!!!”, he wrote on his social media.
His comments have sparked discussions, especially given the ongoing tensions over trade and tariffs between the US and Canada.
Also read | <a href="https://www.wionews.com/world/south-koreas-opposition-considering-to-impeach-acting-president-over-refusal-to-meet-partys-demand-786445">South Korea's opposition considering to impeach the acting president over refusal to meet party's demand</a>

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We are so back!!! <a href="https://t.co/PvybVULeAz">pic.twitter.com/PvybVULeAz</a>
— Eric Trump (@EricTrump) <a href="https://twitter.com/EricTrump/status/1871376220115669456?ref_src=twsrc%5Etfw">December 24, 2024</a></blockquote>
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The recent post comes just a day after Donald Trump reiterated his longstanding desire to purchase Greenland, calling it an “absolute necessity” for US national security. Trump has previously made similar remarks about the self-governing territory, arguing that it would be strategically important for the US to own it.
Earlier on Tuesday (Dec 10), Trump also mocked Canadian Prime Minister Justin Trudeau, calling him the "Governor of the Great State of Canada." Sharing a post on his social media platform, Truth Social, Trump said, "It was a pleasure to have dinner the other night with Governor Justin Trudeau of the Great State of Canada."
"I look forward to seeing the Governor again soon so that we may continue our in-depth talks on Tariffs and Trade, the results of which will be truly spectacular for all! ," he added. 
(With inputs from agencies)

Additionally, on Wednesday (Dec 18), Trump proposed that Canada should join the United States.



Washington, US Eric Trump recently shared a post on the social media platform, X featuring his father, Donald Trump, humorously depicted as "buying" Canada, Greenland, and the Panama Canal through Amazon. The image shows Donald Trump scrolling on his phone, adding the three territories to his cart. Eric captioned it, “We are so back.” Also read | Trump says US subsidies to Canada make no sense, suggests it become 51st US state On Wednesday (Dec 18), Trump had proposed that Canada should join the United States. “No one can answer why we subsidize Canada to the tune of over $100,000,000 a year? Makes no sense! Many Canadians want Canada to become the 51st State. They would save massively on taxes and military protection. I think it is a great idea. 51st State!!!”, he wrote on his social media. His comments have sparked discussions, especially given the ongoing tensions over trade and tariffs between the US and Canada. Also read | South Korea's opposition considering to impeach the acting president over refusal to meet party's demand We are so back!!! pic.twitter.com/PvybVULeAz — Eric Trump (@EricTrump) December 24, 2024 × The recent post comes just a day after Donald Trump reiterated his longstanding desire to purchase Greenland, calling it an “absolute necessity” for US national security. Trump has previously made similar remarks about the self-governing territory, arguing that it would be strategically important for the US to own it. Earlier on Tuesday (Dec 10), Trump also mocked Canadian Prime Minister Justin Trudeau, calling him the "Governor of the Great State of Canada." Sharing a post on his social media platform, Truth Social, Trump said, "It was a pleasure to have dinner the other night with Governor Justin Trudeau of the Great State of Canada." "I look forward to seeing the Governor again soon so that we may continue our in-depth talks on Tariffs and Trade, the results of which will be truly spectacular for all! ," he added. (With inputs from agencies)

Eric Trump posts image of Donald Trump ‘Buying’ Canada, Greenland and Panama Canal in new social media post

Panama's assets take a hit as a dispute escalates between the country and US President-elect Donald Trump over a strategically significant canal. Following Trump's warning to re-establish US control of the Panama Canal unless the nation reduced passage costs, bonds of Panama fell across the board Monday morning.

Donald Trump's Fight Over Canal Control Weighs Down Panama Assets

Panama's Assets Take a Hit From Trump Fight

Eric Trump recently shared a post on the social media platform, X featuring his father, Donald Trump, humorously depicted as "buying" Canada, Greenland, and the Panama Canal through Amazon.&nbsp;

The image shows Donald Trump scrolling on his phone, adding the three territories to his cart. Eric captioned it, “We are so back.” &nbsp;

Also read |&nbsp;&nbsp;<a href="https://www.wionews.com/world/trump-says-us-subsidies-to-canada-make-no-sense-suggests-canada-become-51st-us-state-785043">Trump says US subsidies to Canada make no sense, suggests it become 51st US state</a>

On Wednesday (Dec 18), Trump had proposed that Canada should join the United States. “No one can answer why we subsidize Canada to the tune of over $100,000,000 a year? Makes no sense! Many Canadians want Canada to become the 51st State. They would save massively on taxes and military protection. I think it is a great idea. 51st State!!!”, he wrote on his social media.

His comments have sparked discussions, especially given the ongoing tensions over trade and tariffs between the US and Canada.

Also read |&nbsp;<a href="https://www.wionews.com/world/south-koreas-opposition-considering-to-impeach-acting-president-over-refusal-to-meet-partys-demand-786445">South Korea's opposition considering to impeach the acting president over refusal to meet party's demand</a>

&nbsp;

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<blockquote class="twitter-tweet">
We are so back!!! <a href="https://t.co/PvybVULeAz">pic.twitter.com/PvybVULeAz</a>
— Eric Trump (@EricTrump) <a href="https://twitter.com/EricTrump/status/1871376220115669456?ref_src=twsrc%5Etfw">December 24, 2024</a></blockquote>
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&nbsp;

The recent post comes just a day after Donald Trump reiterated his longstanding desire to purchase Greenland, calling it an “absolute necessity” for US national security. Trump has previously made similar remarks about the self-governing territory, arguing that it would be strategically important for the US to own it.

Earlier on Tuesday (Dec 10), Trump also mocked Canadian Prime Minister Justin Trudeau, calling him the "Governor of the Great State of Canada." Sharing a post on his social media platform, Truth Social, Trump said, "It was a pleasure to have dinner the other night with Governor Justin Trudeau of the Great State of Canada."

"I look forward to seeing the Governor again soon so that we may continue our in-depth talks on Tariffs and Trade, the results of which will be truly spectacular for all! ," he added.&nbsp;

(With inputs from agencies)

Eric Trump recently shared a post on the social media platform, X featuring his father, Donald Trump, humorously depicted as "buying" Canada, Greenland, and the Panama Canal through Amazon.

Eric Trump recently shared a post on the social media platform, X featuring his father, Donald Trump, humorously depicted as "buying" Canada, Greenland, and the Panama Canal through Amazon. The image shows Donald Trump scrolling on his phone, adding the three territories to his cart. Eric captioned it, “We are so back.” Also read | Trump says US subsidies to Canada make no sense, suggests it become 51st US state On Wednesday (Dec 18), Trump had proposed that Canada should join the United States. “No one can answer why we subsidize Canada to the tune of over $100,000,000 a year? Makes no sense! Many Canadians want Canada to become the 51st State. They would save massively on taxes and military protection. I think it is a great idea. 51st State!!!”, he wrote on his social media. His comments have sparked discussions, especially given the ongoing tensions over trade and tariffs between the US and Canada. Also read | South Korea's opposition considering to impeach the acting president over refusal to meet party's demand We are so back!!! pic.twitter.com/PvybVULeAz — Eric Trump (@EricTrump) December 24, 2024 × The recent post comes just a day after Donald Trump reiterated his longstanding desire to purchase Greenland, calling it an “absolute necessity” for US national security. Trump has previously made similar remarks about the self-governing territory, arguing that it would be strategically important for the US to own it. Earlier on Tuesday (Dec 10), Trump also mocked Canadian Prime Minister Justin Trudeau, calling him the "Governor of the Great State of Canada." Sharing a post on his social media platform, Truth Social, Trump said, "It was a pleasure to have dinner the other night with Governor Justin Trudeau of the Great State of Canada." "I look forward to seeing the Governor again soon so that we may continue our in-depth talks on Tariffs and Trade, the results of which will be truly spectacular for all! ," he added. (With inputs from agencies)

The Panama canal, a critical maritime passage connecting the pacific and Atlantic oceans, has become the center of fresh controversy. President-elect Donald trump, addressing supporters in Arizona, criticized Panama for charging what he described as 'excessive rates' for canal usage.

Donald Trump Threatens to Reassert US Control Over Panama Canal

Panama has deported 130 Indian migrants who entered the country through the Darien jungle, under a repatriation deal with the United States.

Panama deports 130 Indian 'irregular' migrants under deal with US

Panama's Foreign Minister Javier Martínez-Acha Vásquez has emphasised the growing stature of India and pointed to how his country plans to increase ties with New Delhi. The plans&nbsp;include soon announcing Panama's ambassador to the country and opening a visa processing office in the Indian capital.

The foreign minister hoped to get Indian investment, see the establishment of the Indian educational institute as well as Indian Pharma manufacturing plants in his country.

Also watch |&nbsp;WION Exclusive | 'We understand the rise of India as a power': Panama FM Javier Martínez-Acha Vásquez

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He explained, "We understand that we need to lower the cost of pharma for Panamanians, and India could be a very important player to solve that problem".

The foreign minister also spoke on his country's stance on the Venezuela elections, the Ukraine war, and United Nations Security Council&nbsp;reforms.

Sidhant Sibal: How do you assess the situation in Venezuela post the elections? I believe that Panama has taken an important decision in terms of suspending its diplomatic relationship with Venezuela. What is the reason behind it?

Javier Martínez-Acha Vásquez: I want to make one thing clear,&nbsp;we didn't break our relationship with Venezuela. We lowered it to the consulate level.&nbsp;The decision to break diplomatic ties was taken by Venezuela. So that's the first thing that I want to make sure that the public and your audience understand. Secondly, Panama has a clear position about principles of democracy. We as a country cannot accept that the rule of law, that an election was probably one of the last resources to solve the political situation in Venezuela, did not fulfil its goal, because the results are not being made public with transparency. We cannot accept the result of an election in which transparency is in doubt. So we hope that the act, the different documents that will support the results are made clear again, and the Venezuelans can find a peaceful solution to the problem. So far, there's no sign that the government is willing to make such documents that will confirm the result of an election.

Sidhant Sibal: Are you speaking to other countries in the region about what has happened in terms of the election results in Venezuela? And have you spoken to the Americans as well? We have seen comments by the US Vice President Kamala Harris as well, she has made a tweet as well, any comments on that?

Javier Martínez-Acha Vásquez: We&nbsp;respect each country's decision about the current situation in Venezuela. I can tell you that we in Latin America have a group of foreign ministers from nine countries in agreement. Probably their statements can be a little bit different, but the aim is the same. We need to have access to the document that supports the results.&nbsp;We need to have independent auditing of the results. Until then, we will maintain our clear position. Democracy is a principle that cannot be negotiated.&nbsp;Our president is committed to the rule of law. Our president is committed to transparent elections. Panama is an ally of democracy.&nbsp;Your country is the biggest democracy in the world. You just had an excellent democratic exercise, millions of people went voting, and the transparency of your election is an example to the world.&nbsp;So that's why we have taken this position in regard to the Venezuelan election. We need transparency. We need Venezuelans to know the full results, the transparency of the election to be made fully and then we can, you know, move forward in different directions if, if the results are made public, so far they haven't. So our position is to support the democratic value of Venezuela and to support the full transparency of the elections.

Sidhant Sibal: So now coming to the India-Panama relationship. And this interview is all about, what does Panama see in India and when it comes to engagement with India? Starting with a broader question, how do you see the relationship between India and Panama?

Javier Martínez-Acha Vásquez: Our relationship between India and Panama has improved greatly, lately. You need to know that my predecessor has an Indian background, and she re-launched the relationship with India. Your foreign minister came to Panama, she visited India. And&nbsp;I understand the importance of India on the global stage. I understand the rise of India as an&nbsp;economic and geopolitical power.&nbsp;And we share a lot in common, customs, you have a different tradition, you are a multicultural country, different religions. In Panama, we have the same thing, here in Panama, you can find a Christian, you can find a Jewish, you can find a Muslim, living in agreement, living in, you know, in full cooperation. One thing that approaches Panama very closely to India. From that, we can work on business, we can work on educational change, we can work on investment, we can work on cultural changes. And I am sure that with the leadership of our president, we will move forward very fast to, you know, create a greater bond between India and Panama.

Sidhant Sibal: So you pointed to high-level engagement between the two sides. What kind of high-level engagement we can expect, and there is no ambassador of Panama here in Delhi? Are you likely to appoint one?

Javier Martínez-Acha Vásquez: Yes,&nbsp;we are going to appoint one very soon.&nbsp;Our president wants to support our mission there.&nbsp;We understand the importance of India in the region, the importance of India in the world,&nbsp;Panama could be a great partner for India because from here you can have the base for Indian companies.&nbsp;And there is a market of almost one&nbsp;billion people in Latin America, Central America, and South America, the strategic position of Panama could be of great value for your business. Plus, we would like to see Indian enterprises establish headquarters in Panama for the region, take advantage and manufacture different products in Panama. Panama has a comparative advantage in the region because of our hub, because of our political stability, because of our economic stability, and, of course, because of our canal. And we can play a great, great, you know, compliment for Indian businesses to tackle the different markets in the region.

Sidhant Sibal: How do you plan to make Panama an attractive destination for Indian businesses? And there is an issue as well. When it comes to getting a visa for Panama, one has to travel to Mumbai. So how do you plan to resolve that issue?

Javier Martínez-Acha Vásquez: We plan to modernise our visa process and we will establish a visa process in New Delhi. The process is very bureaucratic.&nbsp;President José Raúl Mulino&nbsp;is engaged in modernising. The president is engaged in giving great support to our most important embassy, and&nbsp;India will be an important embassy. We are addressing the situation, will present a solution very soon.&nbsp;Your ambassador Dr Sumit Seth here is very active in that regard, and we have talked about the necessity to improve the process of granting visas. And I promise you, we will have a smooth process.

Sidhant Sibal: So Panama is a country which is en route to migration, both legal and illegal migration, if you can perhaps talk about it. And is this route used by Indians to go to the United States?

Javier Martínez-Acha Vásquez: Not really.&nbsp;The main countries when it comes to illegal immigrants are Venezuela, Ecuador, Colombia, Haiti and China.&nbsp;The diaspora of India is regular. Here in Panama, we have about 15,000 Indian background people. They're very important in the business world. They're very important in the community, and they are great actors in creating jobs, investment, and they are very respectful here. You know, with respect to your tradition. And&nbsp;we don't consider India to be a problem of irregular immigration.

Sidhant Sibal: Any plans to sign the mobility and migration pact with India? India has signed these pacts with several countries in the past few months and years.

Javier Martínez-Acha Vásquez:&nbsp;Yes, it is open. I need to discuss that with the Ambassador and Panama wants to establish a great, great relationship with India, believe me, that is top of the agenda with Ambassador Dr Sumit Seth.

Sidhant Sibal: In terms of Indian support to Panama, if you can talk about that, I believe that India offers 25 scholarships to Panama to use that, and also in terms of cooperation with India in terms of the ITEC courses, if you can talk about that.

Javier Martínez-Acha Vásquez: Yes indeed. We have talked with the Ambassador Dr Sumit about the scholarship, we want to send our young students to learn from your different educational centres. I have talked to the ambassador about the probability of establishing here an important tech educational centre. Here in Panama, we can develop the assembling, testing and&nbsp;packaging of the semiconductors. We have talked with the ambassador. I am sure we will have an agreement, and&nbsp;probably soon you will see here in Panama, an important and prestigious educational centre of India.

Sidhant Sibal: So what kind of cooperation are you looking for with India in terms of digital infrastructure?

Javier Martínez-Acha Vásquez:&nbsp;Yes, indeed, we have talked about many, many important cooperation in technology, in education, in cultural change. I want to, you know, relaunch our relations with India. We understand the importance of India on the world stage. I said again, we hope that when my mission is finished here,&nbsp;India will be one of the most important partners of Panama.&nbsp;India is a democratic country, we are too. India shares our principle of, you know, of peace, and we need to create bonds that we transcend our tenure.

Sidhant Sibal: United Nations Security Council reform now, India is very keen to get a membership for the Security Council. What's your position on that? And I believe you will also be a non-permanent member of the UNSC on the first of January 2025 so what is your focus area?

Javier Martínez-Acha Vásquez:&nbsp;We understand the rise of India as a power.&nbsp;India is a country of 1.4 billion people. India is one of the emerging economies. India has a great military capability. India promotes peace. So in that regard, we recognize the importance to modernise the United Nations and to modernise the Security Council. You know, you know, the obstacle to achieve that. Reforms need the backing of two-thirds of the UNGA and the positive vote of the permanent members, the world has changed, and India is not the same as it was four years ago.&nbsp;We need to have a serious discussion about the modernization of global governance. We need to find consensus, not only with India, with other important countries in the world.

Sidhant Sibal: Pharma is another area where India has taken a lead during the Covid pandemic. India sent vaccines to your country in terms of pharma cooperation, what are your expectations with the Indian side in terms of whether it's regulatory approvals or getting cheap Indian drugs?

Javier Martínez-Acha Vásquez:&nbsp;To be sincere, we understand our problem in Panama with pharma, my first advice will be for Indian companies to establish here, a manufacturing hub and then being here, things will be easier. Nevertheless,&nbsp;we understand that we need to lower the cost of pharma for Panamanians, and India could be a very important player to solve that problem.&nbsp;So we will work hard with Ambassador Dr Sumit Seth to try to find solutions to this very important issue for Panamanians and India could be of great support for the Panamanian government to reach such solutions.

Sidhant Sibal: So earlier in the conversation, you talked about the Indian diaspora in Panama, what's your view about the role they have played, especially Indian origin, Panamanians in your country, there are approximately 15,000 members of the Indian diaspora?

Javier Martínez-Acha Vásquez:&nbsp;We understand the importance of the Indian diaspora. They play active roles in the business community. Their traditions are well known in Panama.&nbsp;We are very respectful of your religion. Again, I want to highlight that Panama resembles much of India here, as in India, we have a Jewish, Muslims, Christians, you and your country have different religions, different languages. The level of understanding is very important there and here. So I can conclude, in a very convincing way, that the Indian diaspora in Panama is well appreciated. It is an important factor in the development of Panama as a country, and we want to continue that, and we want to increase that in our development.

Sidhant Sibal: How do you see Indian engagement in the Panama Canal?

Javier Martínez-Acha Vásquez:&nbsp;Well, the canal is only one important element. We are a very important hub. We have the most important airport in the region.&nbsp;So the canal could be a factor to attract Indian investment.&nbsp;And from here you can outreach to the Caribbean, to Central America and to South America. So the complementarity of Panama for the Indian business world is very important. Our mission is to make that clear to the Indian authorities, to the Indian business people, and we are willing, and we are ready to partner with India in such regards.

Sidhant Sibal: So I believe there are other countries in your region, in fact, your neighbours, who are planning to build similar canals. So how do you plan to make sure that the Panama Canal has its own competitive advantage at a time when other countries are looking to have their own canals?

Javier Martínez-Acha Vásquez:&nbsp;Well, we work on competition. We respect each country's policies toward developing its connectivity, but we have a comparative advantage that is very clear. We need to make sure that we remain so, the Canal, which has its own independence to manage the most important asset in the continent, will invest a lot of millions in the next seven years to maintain the competitiveness of the canal. We can rest assured,&nbsp;the canal will continue to play an important role in the world of commerce, the competition is welcome.&nbsp;I ensure that such development in our neighbours will improve the importance of the canal.

Sidhant Sibal: So climate change is one thing that has impacted everyone on the planet. Now, essentially, when it comes to India's contribution, India has been taking the lead when it comes to the International Solar Alliance, the Biofuel Alliance as well. You have, in fact, joined the International Solar Alliance as well. So how do you see cooperating with India when it comes to dealing with the challenge of climate change?

Javier Martínez-Acha Vásquez:&nbsp;Well, we need to cooperate very closely.&nbsp;In Panama, we are taking steps. We have already relocated an important community in the North East Atlantic because of climate change. We are investing more and more in renewable energy, and&nbsp;your country is a leader in solar energy. And again, we need to be together in this battle against climate change, not only Panama and India but the whole world. And we hope that Panama, in the Security Council, will present this as an important issue to be addressed by, you know, the world community.&nbsp;We recognize your commitment to tackle climate change, your commitment to reduce the impact of greenhouse gases. I know that you have reforested millions and millions of trees. That's a good example for the world,&nbsp;and we need to, you know, to take advantage. We are one of the three countries being carbon negative because we have a huge, huge, you know, forest reserve. We can learn from each other. We can share experiences.

Sidhant Sibal: When it comes to the Russia-Ukraine war, or when it comes to the situation between Washington and Beijing. How does it impact countries in Latin America and countries like yours, in terms of the situation on the ground, and in terms of food security, in terms of energy security?

Javier Martínez-Acha Vásquez:&nbsp;Okay, first, we have condemned the aggression of Russia on Ukraine. That's a violation of international law, and we would like to see a stop to that conflict. We would like to see that Ukraine gets back its territory. There's no need for a conflict in the 21st century. We hope that the European Union, with the leadership of the USA, a solution can be found very soon. In regard to China and the USA, it is clear that that's a very complex relationship. But based on that, Panama could be a beneficiary of the situation. India can invest in our country. We know that India has a very capable entrepreneur class, so I'm willing to work closely with your ambassador Dr Sumit Seth, with your authorities to take advantage of Panama. We are a peace-loving country.

Panama's Foreign Minister Javier Martínez-Acha Vásquez has emphasised the growing stature of India and pointed to how his country plans to increase ties with New Delhi.

Panama's Foreign Minister Javier Martínez-Acha Vásquez has emphasised the growing stature of India and pointed to how his country plans to increase ties with New Delhi. The plans include soon announcing Panama's ambassador to the country and opening a visa processing office in the Indian capital. The foreign minister hoped to get Indian investment, see the establishment of the Indian educational institute as well as Indian Pharma manufacturing plants in his country. Also watch | WION Exclusive | 'We understand the rise of India as a power': Panama FM Javier Martínez-Acha Vásquez × He explained, "We understand that we need to lower the cost of pharma for Panamanians, and India could be a very important player to solve that problem". The foreign minister also spoke on his country's stance on the Venezuela elections, the Ukraine war, and United Nations Security Council reforms. Sidhant Sibal: How do you assess the situation in Venezuela post the elections? I believe that Panama has taken an important decision in terms of suspending its diplomatic relationship with Venezuela. What is the reason behind it? Javier Martínez-Acha Vásquez: I want to make one thing clear, we didn't break our relationship with Venezuela. We lowered it to the consulate level. The decision to break diplomatic ties was taken by Venezuela. So that's the first thing that I want to make sure that the public and your audience understand. Secondly, Panama has a clear position about principles of democracy. We as a country cannot accept that the rule of law, that an election was probably one of the last resources to solve the political situation in Venezuela, did not fulfil its goal, because the results are not being made public with transparency. We cannot accept the result of an election in which transparency is in doubt. So we hope that the act, the different documents that will support the results are made clear again, and the Venezuelans can find a peaceful solution to the problem. So far, there's no sign that the government is willing to make such documents that will confirm the result of an election. Sidhant Sibal: Are you speaking to other countries in the region about what has happened in terms of the election results in Venezuela? And have you spoken to the Americans as well? We have seen comments by the US Vice President Kamala Harris as well, she has made a tweet as well, any comments on that? Javier Martínez-Acha Vásquez: We respect each country's decision about the current situation in Venezuela. I can tell you that we in Latin America have a group of foreign ministers from nine countries in agreement. Probably their statements can be a little bit different, but the aim is the same. We need to have access to the document that supports the results. We need to have independent auditing of the results. Until then, we will maintain our clear position. Democracy is a principle that cannot be negotiated. Our president is committed to the rule of law. Our president is committed to transparent elections. Panama is an ally of democracy. Your country is the biggest democracy in the world. You just had an excellent democratic exercise, millions of people went voting, and the transparency of your election is an example to the world. So that's why we have taken this position in regard to the Venezuelan election. We need transparency. We need Venezuelans to know the full results, the transparency of the election to be made fully and then we can, you know, move forward in different directions if, if the results are made public, so far they haven't. So our position is to support the democratic value of Venezuela and to support the full transparency of the elections. Sidhant Sibal: So now coming to the India-Panama relationship. And this interview is all about, what does Panama see in India and when it comes to engagement with India? Starting with a broader question, how do you see the relationship between India and Panama? Javier Martínez-Acha Vásquez: Our relationship between India and Panama has improved greatly, lately. You need to know that my predecessor has an Indian background, and she re-launched the relationship with India. Your foreign minister came to Panama, she visited India. And I understand the importance of India on the global stage. I understand the rise of India as an economic and geopolitical power. And we share a lot in common, customs, you have a different tradition, you are a multicultural country, different religions. In Panama, we have the same thing, here in Panama, you can find a Christian, you can find a Jewish, you can find a Muslim, living in agreement, living in, you know, in full cooperation. One thing that approaches Panama very closely to India. From that, we can work on business, we can work on educational change, we can work on investment, we can work on cultural changes. And I am sure that with the leadership of our president, we will move forward very fast to, you know, create a greater bond between India and Panama. Sidhant Sibal: So you pointed to high-level engagement between the two sides. What kind of high-level engagement we can expect, and there is no ambassador of Panama here in Delhi? Are you likely to appoint one? Javier Martínez-Acha Vásquez: Yes, we are going to appoint one very soon. Our president wants to support our mission there. We understand the importance of India in the region, the importance of India in the world, Panama could be a great partner for India because from here you can have the base for Indian companies. And there is a market of almost one billion people in Latin America, Central America, and South America, the strategic position of Panama could be of great value for your business. Plus, we would like to see Indian enterprises establish headquarters in Panama for the region, take advantage and manufacture different products in Panama. Panama has a comparative advantage in the region because of our hub, because of our political stability, because of our economic stability, and, of course, because of our canal. And we can play a great, great, you know, compliment for Indian businesses to tackle the different markets in the region. Sidhant Sibal: How do you plan to make Panama an attractive destination for Indian businesses? And there is an issue as well. When it comes to getting a visa for Panama, one has to travel to Mumbai. So how do you plan to resolve that issue? Javier Martínez-Acha Vásquez: We plan to modernise our visa process and we will establish a visa process in New Delhi. The process is very bureaucratic. President José Raúl Mulino is engaged in modernising. The president is engaged in giving great support to our most important embassy, and India will be an important embassy. We are addressing the situation, will present a solution very soon. Your ambassador Dr Sumit Seth here is very active in that regard, and we have talked about the necessity to improve the process of granting visas. And I promise you, we will have a smooth process. Sidhant Sibal: So Panama is a country which is en route to migration, both legal and illegal migration, if you can perhaps talk about it. And is this route used by Indians to go to the United States? Javier Martínez-Acha Vásquez: Not really. The main countries when it comes to illegal immigrants are Venezuela, Ecuador, Colombia, Haiti and China. The diaspora of India is regular. Here in Panama, we have about 15,000 Indian background people. They're very important in the business world. They're very important in the community, and they are great actors in creating jobs, investment, and they are very respectful here. You know, with respect to your tradition. And we don't consider India to be a problem of irregular immigration. Sidhant Sibal: Any plans to sign the mobility and migration pact with India? India has signed these pacts with several countries in the past few months and years. Javier Martínez-Acha Vásquez: Yes, it is open. I need to discuss that with the Ambassador and Panama wants to establish a great, great relationship with India, believe me, that is top of the agenda with Ambassador Dr Sumit Seth. Sidhant Sibal: In terms of Indian support to Panama, if you can talk about that, I believe that India offers 25 scholarships to Panama to use that, and also in terms of cooperation with India in terms of the ITEC courses, if you can talk about that. Javier Martínez-Acha Vásquez: Yes indeed. We have talked with the Ambassador Dr Sumit about the scholarship, we want to send our young students to learn from your different educational centres. I have talked to the ambassador about the probability of establishing here an important tech educational centre. Here in Panama, we can develop the assembling, testing and packaging of the semiconductors. We have talked with the ambassador. I am sure we will have an agreement, and probably soon you will see here in Panama, an important and prestigious educational centre of India. Sidhant Sibal: So what kind of cooperation are you looking for with India in terms of digital infrastructure? Javier Martínez-Acha Vásquez: Yes, indeed, we have talked about many, many important cooperation in technology, in education, in cultural change. I want to, you know, relaunch our relations with India. We understand the importance of India on the world stage. I said again, we hope that when my mission is finished here, India will be one of the most important partners of Panama. India is a democratic country, we are too. India shares our principle of, you know, of peace, and we need to create bonds that we transcend our tenure. Sidhant Sibal: United Nations Security Council reform now, India is very keen to get a membership for the Security Council. What's your position on that? And I believe you will also be a non-permanent member of the UNSC on the first of January 2025 so what is your focus area? Javier Martínez-Acha Vásquez: We understand the rise of India as a power. India is a country of 1.4 billion people. India is one of the emerging economies. India has a great military capability. India promotes peace. So in that regard, we recognize the importance to modernise the United Nations and to modernise the Security Council. You know, you know, the obstacle to achieve that. Reforms need the backing of two-thirds of the UNGA and the positive vote of the permanent members, the world has changed, and India is not the same as it was four years ago. We need to have a serious discussion about the modernization of global governance. We need to find consensus, not only with India, with other important countries in the world. Sidhant Sibal: Pharma is another area where India has taken a lead during the Covid pandemic. India sent vaccines to your country in terms of pharma cooperation, what are your expectations with the Indian side in terms of whether it's regulatory approvals or getting cheap Indian drugs? Javier Martínez-Acha Vásquez: To be sincere, we understand our problem in Panama with pharma, my first advice will be for Indian companies to establish here, a manufacturing hub and then being here, things will be easier. Nevertheless, we understand that we need to lower the cost of pharma for Panamanians, and India could be a very important player to solve that problem. So we will work hard with Ambassador Dr Sumit Seth to try to find solutions to this very important issue for Panamanians and India could be of great support for the Panamanian government to reach such solutions. Sidhant Sibal: So earlier in the conversation, you talked about the Indian diaspora in Panama, what's your view about the role they have played, especially Indian origin, Panamanians in your country, there are approximately 15,000 members of the Indian diaspora? Javier Martínez-Acha Vásquez: We understand the importance of the Indian diaspora. They play active roles in the business community. Their traditions are well known in Panama. We are very respectful of your religion. Again, I want to highlight that Panama resembles much of India here, as in India, we have a Jewish, Muslims, Christians, you and your country have different religions, different languages. The level of understanding is very important there and here. So I can conclude, in a very convincing way, that the Indian diaspora in Panama is well appreciated. It is an important factor in the development of Panama as a country, and we want to continue that, and we want to increase that in our development. Sidhant Sibal: How do you see Indian engagement in the Panama Canal? Javier Martínez-Acha Vásquez: Well, the canal is only one important element. We are a very important hub. We have the most important airport in the region. So the canal could be a factor to attract Indian investment. And from here you can outreach to the Caribbean, to Central America and to South America. So the complementarity of Panama for the Indian business world is very important. Our mission is to make that clear to the Indian authorities, to the Indian business people, and we are willing, and we are ready to partner with India in such regards. Sidhant Sibal: So I believe there are other countries in your region, in fact, your neighbours, who are planning to build similar canals. So how do you plan to make sure that the Panama Canal has its own competitive advantage at a time when other countries are looking to have their own canals? Javier Martínez-Acha Vásquez: Well, we work on competition. We respect each country's policies toward developing its connectivity, but we have a comparative advantage that is very clear. We need to make sure that we remain so, the Canal, which has its own independence to manage the most important asset in the continent, will invest a lot of millions in the next seven years to maintain the competitiveness of the canal. We can rest assured, the canal will continue to play an important role in the world of commerce, the competition is welcome. I ensure that such development in our neighbours will improve the importance of the canal. Sidhant Sibal: So climate change is one thing that has impacted everyone on the planet. Now, essentially, when it comes to India's contribution, India has been taking the lead when it comes to the International Solar Alliance, the Biofuel Alliance as well. You have, in fact, joined the International Solar Alliance as well. So how do you see cooperating with India when it comes to dealing with the challenge of climate change? Javier Martínez-Acha Vásquez: Well, we need to cooperate very closely. In Panama, we are taking steps. We have already relocated an important community in the North East Atlantic because of climate change. We are investing more and more in renewable energy, and your country is a leader in solar energy. And again, we need to be together in this battle against climate change, not only Panama and India but the whole world. And we hope that Panama, in the Security Council, will present this as an important issue to be addressed by, you know, the world community. We recognize your commitment to tackle climate change, your commitment to reduce the impact of greenhouse gases. I know that you have reforested millions and millions of trees. That's a good example for the world, and we need to, you know, to take advantage. We are one of the three countries being carbon negative because we have a huge, huge, you know, forest reserve. We can learn from each other. We can share experiences. Sidhant Sibal: When it comes to the Russia-Ukraine war, or when it comes to the situation between Washington and Beijing. How does it impact countries in Latin America and countries like yours, in terms of the situation on the ground, and in terms of food security, in terms of energy security? Javier Martínez-Acha Vásquez: Okay, first, we have condemned the aggression of Russia on Ukraine. That's a violation of international law, and we would like to see a stop to that conflict. We would like to see that Ukraine gets back its territory. There's no need for a conflict in the 21st century. We hope that the European Union, with the leadership of the USA, a solution can be found very soon. In regard to China and the USA, it is clear that that's a very complex relationship. But based on that, Panama could be a beneficiary of the situation. India can invest in our country. We know that India has a very capable entrepreneur class, so I'm willing to work closely with your ambassador Dr Sumit Seth, with your authorities to take advantage of Panama. We are a peace-loving country.

We understand the rise of India as a power: Panama FM Javier Vásquez

Panama Foreign Minister Javier Martínez-Acha Vásquez has emphasized on his country's strong ties with India & invited Indian businesses to invites in his country. Speaking to our diplomatic correspondent Sidhant Sibal, he said, 'We understand rise of India as a power'. He said that his country is also working to get Indian institutions in Panama even as many Panamaians choose India as a destination for education under scholarship. He also spoke on Pharma, a digital cooperation with Delhi.

WION Exclusive | 'We understand the rise of India as a power':Panama FM Javier Martínez-Acha Vásquez

'Panama didn't suspend ties, Venezuela broke the ties', says Panama FM

A Panamanian court has acquitted 28 people charged with money laundering at the centre of the ‘Panama Papers’ scandal, said the country’s judicial branch, in a statement on Friday (Jun 28). This comes after the judge ruled that there was insufficient evidence to conclusively determine the criminal responsibility of those charged.&nbsp;

<h2>What did the court say?</h2>

The court said that Judge Baloisa Marquinez, who was presiding over the trial, has “acquitted 28 people accused...of money laundering” relating to the now-defunct Panamanian law firm Mossack Fonseca.&nbsp;

The trial which was held in Panama City in April was linked to the Panama Papers and Operation Car Wash scandals where 28 people were facing charges over their role in allegedly setting up shell companies involved in bribery and corruption in Brazil and Germany.&nbsp;

Also Read |&nbsp;<a href="https://www.wionews.com/world/pentagon-removes-us-aid-pier-from-gaza-due-to-high-sea-conditions-736176">Pentagon removes US aid pier from Gaza due to high sea conditions</a>

Jurgen Mossack, a German national and one of the founders of the Panamanian law firm which featured prominently in the Panama Papers investigation, was among those who were acquitted.&nbsp;

Ramon Fonseca, the other founder of Mossack Fonseca, died in May after being hospitalised since early April. Since he died before the trial concluded the case against him has been dismissed.&nbsp;

The prosecution had sought 12 years in prison, the maximum sentence for money laundering, for the duo.&nbsp;

However, the judge ruled that the evidence collected from the law firm’s servers had not been gathered in line with due process, casting doubt over its “authenticity and integrity”.&nbsp;

Marquinez in his verdict also noted that the “rest of the evidence was not sufficient and conclusive to determine the criminal responsibility of the defendants.”&nbsp;

The judge also ordered that precautionary measures be lifted against all the defendants and noted that the criminal process for one defendant was cancelled due to their death.&nbsp;

Marquinez ordered fines worth&nbsp;100 balboas ($100) each on 10 witnesses who did not comply with summonses.&nbsp;

Also Read |&nbsp;<a href="https://www.wionews.com/world/bolivian-general-leaders-of-failed-coup-get-six-months-pre-trial-detention-736156">Bolivian general, other suspected leaders of failed coup get six months pre-trial detention</a>

In connection to Operation Car Wash, a massive anti-corruption probe which began in Brazil, the judge ruled that it could not be determined that money from illicit sources had entered Panama from the South American country in a bid to help conceal crimes.&nbsp;

<h2>About the case</h2>

The now-defunct law firm came under scrutiny in 2016 after its leaked confidential documents exposed that many of the world’s wealthy stashed assets in offshore companies and triggered dozens of investigations across the world.&nbsp;

Other big names linked to this scandal included former Argentine President Mauricio Macri, Ukrainian President Volodymyr Zelensky, former British Prime Minister David Cameron, and Argentine football star Lionel Messi.

(With inputs from agencies) 
&nbsp;

A Panamanian court has acquitted 28 people charged with money laundering at the centre of the ‘Panama Papers’ scandal, said the country’s judicial branch, in a statement on Friday (Jun 28).

A Panamanian court has acquitted 28 people charged with money laundering at the centre of the ‘Panama Papers’ scandal, said the country’s judicial branch, in a statement on Friday (Jun 28). This comes after the judge ruled that there was insufficient evidence to conclusively determine the criminal responsibility of those charged. What did the court say? The court said that Judge Baloisa Marquinez, who was presiding over the trial, has “acquitted 28 people accused...of money laundering” relating to the now-defunct Panamanian law firm Mossack Fonseca. The trial which was held in Panama City in April was linked to the Panama Papers and Operation Car Wash scandals where 28 people were facing charges over their role in allegedly setting up shell companies involved in bribery and corruption in Brazil and Germany. Also Read | Pentagon removes US aid pier from Gaza due to high sea conditions Jurgen Mossack, a German national and one of the founders of the Panamanian law firm which featured prominently in the Panama Papers investigation, was among those who were acquitted. Ramon Fonseca, the other founder of Mossack Fonseca, died in May after being hospitalised since early April. Since he died before the trial concluded the case against him has been dismissed. The prosecution had sought 12 years in prison, the maximum sentence for money laundering, for the duo. However, the judge ruled that the evidence collected from the law firm’s servers had not been gathered in line with due process, casting doubt over its “authenticity and integrity”. Marquinez in his verdict also noted that the “rest of the evidence was not sufficient and conclusive to determine the criminal responsibility of the defendants.” The judge also ordered that precautionary measures be lifted against all the defendants and noted that the criminal process for one defendant was cancelled due to their death. Marquinez ordered fines worth 100 balboas ($100) each on 10 witnesses who did not comply with summonses. Also Read | Bolivian general, other suspected leaders of failed coup get six months pre-trial detention In connection to Operation Car Wash, a massive anti-corruption probe which began in Brazil, the judge ruled that it could not be determined that money from illicit sources had entered Panama from the South American country in a bid to help conceal crimes. About the case The now-defunct law firm came under scrutiny in 2016 after its leaked confidential documents exposed that many of the world’s wealthy stashed assets in offshore companies and triggered dozens of investigations across the world. Other big names linked to this scandal included former Argentine President Mauricio Macri, Ukrainian President Volodymyr Zelensky, former British Prime Minister David Cameron, and Argentine football star Lionel Messi. (With inputs from agencies)

Panama Papers trial: Panamanian court acquits 28 defendants due to ‘insufficient’ evidence

Some 1,200 members of an indigenous community have become the first people in Panama to be displaced by climate change. They received new government-sponsored homes on the mainland.

Climate change displaces community in Panama

Panama's former security minister Jose Raul Mulino won the Presidential Elections held on Sunday. Watch in for more details!

Panama 2024 Elections: Jose Raul Mulino elected Panama's President

Latin America's transit powerhouse Panama elected Jose Raul Mulino as its new president. Deemed an investor favourite candidate, Mulino rose to the favour of voters by pledging to revive the economy, crack down on drug cartels and shut down the illegal migration routes to the United States.&nbsp;

Mulino ran in place of the fugitive former leader Ricardo Martinelli, who was banned from participating and sought asylum in Nicaragua's embassy after a money laundering conviction.&nbsp;

<h2>Panama Elections: What do the results look like?</h2>

With 87 per cent of votes tallied on Sunday (May 5), Mulino, a 64-year-old lawyer, had 34 per cent of the vote, to 25 per cent for his nearest rival Ricardo Lombana.&nbsp;

The election authority declared Mulino the winner after the other main candidates all conceded.

Also read |&nbsp;<a href="https://www.wionews.com/world/the-capitals-no-gaza-truce-breakthrough-in-cairo-tories-lose-london-to-sadiq-khan-yet-again-and-more-718274">The Capitals: No Gaza truce breakthrough in Cairo; Tories lose London to Sadiq Khan yet again; and more</a>

Mulino accepted his victory and said he would seek the formation of a government of national unity. He will take office on July 1, replacing President Laurentino Cortizo, who was not eligible for re-election.&nbsp;

<h2>Panama Elections 2024: What were the issues?</h2>

Panama has been battered by unrest, credit rating downgrades, low water levels in the Panama canal and the closure of a major copper mine that has led to massive trade deficit with China. During the campaign, Mulino said he would use public works projects and incentives for foreign investors to target nominal economic growth of 7 per cent.

Panama had been the top performing economy in Latin America for past few decades. But according to the International Monetary Fund, the Latin American country will grow just 2.5 per cent this year.

But the top public contention is the way to reopen First Quantum Minerals Ltd's $10bn copper mine. The country's Supreme Court in December ruled that a contract for the mine violated the constitution and ordered it shut.&nbsp;

In his concession speech, the outgoing President Lombana warned his successor Mulino against renegotiating the mine contract, warning that this would bring people into the streets.

<h2>Panama Elections 2024: New president's priorities</h2>

Community protests across the country have focused on new sources of water for the Panama canal after a severe drought this year led to the restriction of transits through the waterway.

Mulino’s policies may also have an impact on the US presidential election in November in which migration is one of the voters' top concerns.

Also watch |&nbsp;Panama elections: Eight candidates on ballot for May 5th Presidential race

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Mulino has said he will shut the trails through the dense jungle region between Colombia and Panama.&nbsp;

More than half a million migrants passed through this route last year.

Mulino has also promised a "full-frontal assault" on drug trafficking.&nbsp;

(With inputs from agencies)

Latin America's transit powerhouse Panama elected Jose Raul Mulino as its new president. Deemed an investor favourite candidate, Mulino rose to the favour of voters by pledging to revive the economy, crack down on drug cartels and shut down the illegal migration routes to the United States.

Latin America's transit powerhouse Panama elected Jose Raul Mulino as its new president. Deemed an investor favourite candidate, Mulino rose to the favour of voters by pledging to revive the economy, crack down on drug cartels and shut down the illegal migration routes to the United States. Mulino ran in place of the fugitive former leader Ricardo Martinelli, who was banned from participating and sought asylum in Nicaragua's embassy after a money laundering conviction. Panama Elections: What do the results look like? With 87 per cent of votes tallied on Sunday (May 5), Mulino, a 64-year-old lawyer, had 34 per cent of the vote, to 25 per cent for his nearest rival Ricardo Lombana. The election authority declared Mulino the winner after the other main candidates all conceded. Also read | The Capitals: No Gaza truce breakthrough in Cairo; Tories lose London to Sadiq Khan yet again; and more Mulino accepted his victory and said he would seek the formation of a government of national unity. He will take office on July 1, replacing President Laurentino Cortizo, who was not eligible for re-election. Panama Elections 2024: What were the issues? Panama has been battered by unrest, credit rating downgrades, low water levels in the Panama canal and the closure of a major copper mine that has led to massive trade deficit with China. During the campaign, Mulino said he would use public works projects and incentives for foreign investors to target nominal economic growth of 7 per cent. Panama had been the top performing economy in Latin America for past few decades. But according to the International Monetary Fund, the Latin American country will grow just 2.5 per cent this year. But the top public contention is the way to reopen First Quantum Minerals Ltd's $10bn copper mine. The country's Supreme Court in December ruled that a contract for the mine violated the constitution and ordered it shut. In his concession speech, the outgoing President Lombana warned his successor Mulino against renegotiating the mine contract, warning that this would bring people into the streets. Panama Elections 2024: New president's priorities Community protests across the country have focused on new sources of water for the Panama canal after a severe drought this year led to the restriction of transits through the waterway. Mulino’s policies may also have an impact on the US presidential election in November in which migration is one of the voters' top concerns. Also watch | Panama elections: Eight candidates on ballot for May 5th Presidential race × Mulino has said he will shut the trails through the dense jungle region between Colombia and Panama. More than half a million migrants passed through this route last year. Mulino has also promised a "full-frontal assault" on drug trafficking. (With inputs from agencies)

Panama elects new president on pro-investor, migrant trail shutdown plank

Panama's former security minister Jose Raul Mulino stormed to victory in a presidential poll dominated by his old boss, the corruption tainted ex-leader Ricardo Martinelli. Watch in for more details!

Jose Raul Mulino wins Panama presidential race

General elections are scheduled to be held in Panama on 5 May 2024.Due to constitutional term limits, incumbent president Laurentino Cortizo is ineligible for a second consecutive term. Watch in for more details!

Panamaniams vote for five Presidential frontrunners | Mulino surges ahead in early vote count

Panama elections: Eight candidates on ballot for May 5th Presidential race

Panama polls 2024: 5 frontrunners in Panama's Presidential poll

Panama gears up for presidential elections

Six of the eight candidates vying to be Panama’s next president laid out their plans to generate jobs and to manage the country’s water crisis in their final debate before the country’s May 5 election. Watch in for more details!

Key absence overshadows Panama's last Presidential debate

Panama, the tiny Latin American nation of over four million people, conjures up visuals of the namesake canal, which contributed $3.3 billion to the government's coffers in 2023.&nbsp;

But the country's Foreign Minister, Janaina Tewaney Mencomo, wants the world to envision Panama in a different light. "Panama is not just the canal. It is connectivity. It is a route. It is a bridge linking Latin America and the world," she said.

<img alt="Panam on the map" data-entity-type="file" data-entity-uuid="baeffd6b-dea5-464f-9f5e-8a15678fdab5" src="//cdn.wionews.com/sites/default/files/inline-images/WhatsApp%20Image%202024-03-08%20at%2014.52.20.jpeg" />&nbsp;

Speaking at a recent event in New Delhi, Mencomo, who is of Indian descent, defined Panama in the following manner: "Panama is historically South America, culturally Carribean, and geographically Central America."

Batting for greater India-Panama ties, Mencomo stated that the world's fifth-largest economy is at the centre of Panama's foreign policy. "India is an emerging power and important to Panama," she said.

But she also said that the South Asian country needs to engage more politically with Latin America. "Latin Americans love India. That's a big asset for India," she argued.

In an exclusive interaction with wionews.com, Mencomo spoke about Panama's focus on becoming a connectivity hub, the water shortage affecting the canal, and growing India-Panama relations

Edited Excerpts:

What is your country's long-term plans to mitigate the ongoing water crisis and support global free trade?

The drought affecting the Panama Canal is the latest episode of a sort of collective “aha!” moment. We’re in the middle of a re-conceptualisation of our country, one that has historic, demographic, and strategic dimensions. It is what I have called our “Panama 3.0” era.

The Canal was designed and built in a very different world, more than 100 years ago. Its current operating model, built upon the use of freshwater, is increasingly at odds not only with the realities of climate change but also with a world in which freshwater is already more valuable than gold. So, Panama needs to consider and implement bold, creative ambitious solutions. Solutions that, ideally, go beyond depending on rainfall.

Panama administers a major maritime chokepoint, so it needs to coordinate with other chokepoint countries, like Egypt or Singapore, to guarantee world commerce and open supply lines. It also runs a major freshwater waterway, so it needs to assume a leading role in the management of water disruptions in canals, and lake and river routes.

Panama, uniquely, is the bridge connecting the Americas, so it must learn from countries like Kazakhstan and become a seamless connectivity and transit hub between North, Central, South America and the Caribbean.

Panama is India's largest trade partner in Central America. What's your five-year outlook on bilateral trade?

Bilateral trade between our two countries reached an all-time high of $582 million in 2022, but I would like to focus more on the long term. Panama will continue to be an important trade and investment partner for India in the Central American region, as a gateway for Indian companies that want to trade and do business with the Americas. This is only the beginning. We can expect more economic integration between India and Panama in the future as more Indian companies discover the advantages of doing business with one of the most financially stable economies in the Americas. We may also see more Panamanian companies doing business with India, which is soon becoming one of the largest consumer markets in the world.

India and Panama, both aim to be a major pharma hub. How can both countries collaborate in the pharma sector?

Despite these mutual aspirations, India and Panama have no conflicting interests in the pharma sector. Panama is looking to become a regional hub for international pharma companies, including from India, to set up base in Panama and export to the larger Americas region. Given Panama's free trade agreements with large economies like the United States, this is an interesting proposition for Indian companies that are looking for a safe, reliable nearshoring hub close to their primary export market. After all, nearly one-third of India's total pharma exports are sent to the United States. Already, half a dozen Indian pharma companies already have operations in Panama, and three of them use Panama as their sub-regional headquarters for the Central American region.

How can Panama help India in growing its economic footprint across the world?

India's foreign policy, centered on non-alignment for most of its independent history, has placed the country in the envious position of being a friend to most of the world. India enjoys close relations with Israel and Iran, with Russia and the United States. Yet, India has only recently begun making inroads into the Latin America region. Panama is home to the largest Indian diaspora in Spanish-speaking Latin America. As the gateway to Latin America, Panama can help India position itself in Central America and the wider Latin American region. One example of this is when Panama hosted the India-SICA Ministerial Meeting in April 2023.

Panama, the tiny Latin American nation of over four million people, conjures up visuals of the namesake canal, which contributed $3.3 billion to the government's coffers in 2023.

Panama, the tiny Latin American nation of over four million people, conjures up visuals of the namesake canal, which contributed $3.3 billion to the government's coffers in 2023. But the country's Foreign Minister, Janaina Tewaney Mencomo, wants the world to envision Panama in a different light. "Panama is not just the canal. It is connectivity. It is a route. It is a bridge linking Latin America and the world," she said. Speaking at a recent event in New Delhi, Mencomo, who is of Indian descent, defined Panama in the following manner: "Panama is historically South America, culturally Carribean, and geographically Central America." Batting for greater India-Panama ties, Mencomo stated that the world's fifth-largest economy is at the centre of Panama's foreign policy. "India is an emerging power and important to Panama," she said. But she also said that the South Asian country needs to engage more politically with Latin America. "Latin Americans love India. That's a big asset for India," she argued. In an exclusive interaction with wionews.com, Mencomo spoke about Panama's focus on becoming a connectivity hub, the water shortage affecting the canal, and growing India-Panama relations Edited Excerpts: What is your country's long-term plans to mitigate the ongoing water crisis and support global free trade? The drought affecting the Panama Canal is the latest episode of a sort of collective “aha!” moment. We’re in the middle of a re-conceptualisation of our country, one that has historic, demographic, and strategic dimensions. It is what I have called our “Panama 3.0” era. The Canal was designed and built in a very different world, more than 100 years ago. Its current operating model, built upon the use of freshwater, is increasingly at odds not only with the realities of climate change but also with a world in which freshwater is already more valuable than gold. So, Panama needs to consider and implement bold, creative ambitious solutions. Solutions that, ideally, go beyond depending on rainfall. Panama administers a major maritime chokepoint, so it needs to coordinate with other chokepoint countries, like Egypt or Singapore, to guarantee world commerce and open supply lines. It also runs a major freshwater waterway, so it needs to assume a leading role in the management of water disruptions in canals, and lake and river routes. Panama, uniquely, is the bridge connecting the Americas, so it must learn from countries like Kazakhstan and become a seamless connectivity and transit hub between North, Central, South America and the Caribbean. Panama is India's largest trade partner in Central America. What's your five-year outlook on bilateral trade? Bilateral trade between our two countries reached an all-time high of $582 million in 2022, but I would like to focus more on the long term. Panama will continue to be an important trade and investment partner for India in the Central American region, as a gateway for Indian companies that want to trade and do business with the Americas. This is only the beginning. We can expect more economic integration between India and Panama in the future as more Indian companies discover the advantages of doing business with one of the most financially stable economies in the Americas. We may also see more Panamanian companies doing business with India, which is soon becoming one of the largest consumer markets in the world. India and Panama, both aim to be a major pharma hub. How can both countries collaborate in the pharma sector? Despite these mutual aspirations, India and Panama have no conflicting interests in the pharma sector. Panama is looking to become a regional hub for international pharma companies, including from India, to set up base in Panama and export to the larger Americas region. Given Panama's free trade agreements with large economies like the United States, this is an interesting proposition for Indian companies that are looking for a safe, reliable nearshoring hub close to their primary export market. After all, nearly one-third of India's total pharma exports are sent to the United States. Already, half a dozen Indian pharma companies already have operations in Panama, and three of them use Panama as their sub-regional headquarters for the Central American region. How can Panama help India in growing its economic footprint across the world? India's foreign policy, centered on non-alignment for most of its independent history, has placed the country in the envious position of being a friend to most of the world. India enjoys close relations with Israel and Iran, with Russia and the United States. Yet, India has only recently begun making inroads into the Latin America region. Panama is home to the largest Indian diaspora in Spanish-speaking Latin America. As the gateway to Latin America, Panama can help India position itself in Central America and the wider Latin American region. One example of this is when Panama hosted the India-SICA Ministerial Meeting in April 2023.

WION Exclusive | Panama's Foreign Minister on drought affecting the canal and growing ties with India

Panama Canal has been hit by a severe drought that began last year. It has forced authorities to slash ship crossings by 36 per cent in the Panama Canal.&nbsp;

A report by The Associated Press mentioned that the new cuts were announced Wednesday (Jan 17) by authorities in Panama.&nbsp;

The recent reduction is set to pose an even greater economic blow than previously expected as the Panama Canal is one of the world's most important trade routes.&nbsp;

Also read:&nbsp;<a href="https://www.wionews.com/world/ukraine-says-it-hit-targets-in-russia-during-attack-on-oil-terminal-in-st-petersburg-681289">Ukraine says it hit targets in Russia during attack on oil terminal in St Petersburg</a>&nbsp;

Panama Canal Administrator Ricaurte Vásquez now expects that lowering water levels would cost between $500 million and $700 million in 2024, up from $200 million previously. wreaked havoc on the 80-kilometre maritime channel.&nbsp;

It has generated a traffic jam of vessels. It has made the viability of canals doubtful for global transport and raised fears about its impact on world commerce.&nbsp;

Also read:&nbsp;<a href="https://www.wionews.com/world/india-could-ease-china-investment-curbs-if-border-stays-calm-report-681265">India could ease China investment curbs if border stays calm: Report</a>&nbsp;

Watch the report:&nbsp;

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"It's vital that the country sends a message that we’re going to take this on and find a solution to this water problem," Vásquez said.

The news agency's report further added that the disruption of the major trade route between Asia and the United States comes at a precarious time.&nbsp;

Attacks on commercial ships in the Red Sea by Yemen's Houthi rebels have rerouted vessels away from the crucial corridor for consumer goods and energy supplies.&nbsp;

The combination is having a far-reaching impact on global trade, delaying shipments and increasing transportation costs.&nbsp;

According to analysts, several corporations were planning to reroute to the Red Sea, a crucial route between Asia and Europe, to avoid delays at the Panama Canal.

(With inputs from agencies)&nbsp;

Panama Canal has been hit by a severe drought that began last year. It has forced authorities to slash ship crossings by 36 per cent in the Panama Canal. A report by The Associated Press mentioned that the new cuts were announced Wednesday (Jan 17) by authorities in Panama.

Panama Canal has been hit by a severe drought that began last year. It has forced authorities to slash ship crossings by 36 per cent in the Panama Canal. A report by The Associated Press mentioned that the new cuts were announced Wednesday (Jan 17) by authorities in Panama. The recent reduction is set to pose an even greater economic blow than previously expected as the Panama Canal is one of the world's most important trade routes. Also read: Ukraine says it hit targets in Russia during attack on oil terminal in St Petersburg Panama Canal Administrator Ricaurte Vásquez now expects that lowering water levels would cost between $500 million and $700 million in 2024, up from $200 million previously. wreaked havoc on the 80-kilometre maritime channel. It has generated a traffic jam of vessels. It has made the viability of canals doubtful for global transport and raised fears about its impact on world commerce. Also read: India could ease China investment curbs if border stays calm: Report Watch the report: × "It's vital that the country sends a message that we’re going to take this on and find a solution to this water problem," Vásquez said. The news agency's report further added that the disruption of the major trade route between Asia and the United States comes at a precarious time. Attacks on commercial ships in the Red Sea by Yemen's Houthi rebels have rerouted vessels away from the crucial corridor for consumer goods and energy supplies. The combination is having a far-reaching impact on global trade, delaying shipments and increasing transportation costs. According to analysts, several corporations were planning to reroute to the Red Sea, a crucial route between Asia and Europe, to avoid delays at the Panama Canal. (With inputs from agencies)

Severe drought causes major drop in Panama Canal traffic which could cost millions of dollars

The Red Sea crisis has disrupted the global shipping industry. But that's hardly the only issue that shipping giants are facing right now. The industry fears it will continue to face significant disruptions in 2024.

Panama canal: Severe drought hits canal, administrators forced to cut vessel crossings

Wars, extreme weather & panama restrictions hit shipping

Mamabally Bakery in India's Kerala claims to have baked the first and the oldest Christmas cake. Watch video to know more.

Kerala: The sweet story of India's 'oldest' Christmas cake

This report delves into the Panama Canal crisis, where a severe drought threatens to disrupt this holiday season. This environmental disaster has led to drastic drops in canal water levels, causing significant delays in global trade. With only 24 ships allowed daily, down from 38, the world faces potential shortages and inflated prices on everything from festive decorations to children's toys. This crisis is a stark reminder of climate change's far-reaching impacts, echoing concerns that will be addressed at the upcoming COP28 conference.

Gravitas | Christmas at Risk: Panama Canal Drought Disrupts Global Trade

Christmas supplies in the UK may face significant delays due to a drastic decline in water levels in the Panama Canal. In what could dampen the mood in the festive season, cargo ships carrying Christmas supplies, including popular items like Apple's new iPhones, TVs, exercise bikes, clothes, and tree lights, are experiencing delays of up to four weeks.

Christmas supplies at risk as Panama canal suffers drought

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