Global Trading Tips and Advice from the Experts: Panama
Once you're accustomed to global trade beyond U.S. borders — whether with one country or several, near or far — aim to expand your reach farther. Seek more international trade opportunities. Move into new markets. Grow your business.
Choosing where to trade is important to the success of your business. If you want an easy fit, consider Panama.
Just ask the guy who knows: U.S. Commercial Service (USCS) expert Daniel Crocker.
Panama: Where buyers are eager and trade is encouraged
Crocker, a senior commercial officer at the U.S. Embassy in Panama, lives in the country and has witnessed the increasing interest — and need — for imported products. "Panama's economy is growing at almost 10 percent," Crocker says. He indicates buyers and residents in Panama highly regard U.S. goods and services, which will be even more competitive with the implementation of a free-trade agreement between the two countries.
Panama's numerous attributes make exporting highly attractive to U.S. businesses:
- Easy access for U.S. exporters
- Common currency
- Affinity for U.S. goods and products
- English fluency is common
- Safe environment
Crocker suggests U.S. small businesses take advantage of the relative ease of traveling between the two countries. "As in the rest of Latin America, be willing to come and meet your partners face to face," he says. He goes on to recommend that the U.S. exporter maintain a permanent presence in the country — via a local agent, representative or distributor — making it easier to explore new trade opportunities.
You can find out more about the benefits of trading with Panama — and other countries — by going to FedEx® International Shipping and reading what the experts have to say.
Learn from the best
When you know the details about potential markets and various countries, you can compare and apply that information to take your business to the next level.
Now you have access to a series of articles highlighting priority markets around the globe — established and emerging markets that offer a great deal of unique potential for U.S. businesses. We interviewed a pool of senior-ranking USCS officers who live in countries with an exciting potential for trade. The USCS is the trade promotion arm of the U.S. Department of Commerce's International Trade Administration and helps companies get started in exporting or increase sales to new global markets. Most services are provided at no cost or for a nominal fee.
From the insight the USCS senior officers provide, you'll learn the ins and outs of trading in a particular country, such as:
- Market opportunities.
- Business cultures and how they compare with those of the U.S.
- Trading practices, issues, concerns and potential.
- Tips on how to get started doing business.
We'll highlight a different market each month on FedEx International Shipping. Click on Business Solutions and select Export Assistance from the USCS. The countries already highlighted — Hong Kong, Vietnam and now Panama — are listed under Global Market Spotlights.
Check out the full spotlight interview to learn more from Crocker about the practicalities and benefits of trading with Panama.
Take your business to the next level. Take advantage of the tips and advice from experts on FedEx International Shipping.
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The views and opinions of Daniel Crocker expressed here are not necessarily those of FedEx.