(Panama-Guide) Miguel Sebastián, the Minister for Industry, Tourism and Trade, met on Thursday with the President of the Republic of Panama, Ricardo Martinelli, and his Ministers for Public Works, Federico José Suárez, and Trade and Industry, Roberto Henríquez, during his trip to Latin America designed to boost trade relations between Spain and the region and support Spanish companies. During his meeting with President Martinelli, Miguel Sebastián highlighted the importance of the EU-LAC Strategic Partnership, the first regional agreement signed by the EU. It was concluded this year thanks to work by Spain during its rotating Presidency of the EU. The Spanish minister offered President Martinelli Spanish cooperation in implementing the agreement as soon as possible so that the two countries can benefit from greater trade and investment flows.
He also referred to the Spain-Panama agreement to avoid double taxation, signed in October. The agreement will benefit Spanish and Panamanian companies and individuals and is a further example of the magnificent relations between the two countries. Panama has ridden the global economic crisis without seeing its Gross Domestic Product (GDP) decline. En 2009, at the height of the crisis, GDP grew by 2.4%, and the country's economy is expected to expand at around 6% in 2010.
In addition, Miguel Sebastián informed President Martinellli of Spain's willingness to collaborate in the deployment of Digital Terrestrial Television (DTT) in Panama, which together with Colombia and Uruguay has chosen the European DTT standard DVB. The DVB standard is the only truly global one in the world. It is open and not controlled by patent holders or intellectual property rights. This makes it easier to develop and offer new services and applications. It also allows the use of the cheapest receptor equipment on the market. It provides advantages to the population in terms of greater flexibility in the structure of supply of television signals, which can be in both standard and high definition. This means that a variety of business models can be set up.
The Spanish ICT sector is very competitive. It is a leader in the process of integration, consulting and engineering, radiant systems (antennas) and interactivity and has a major associated digital content and technology industry. Spain is a pioneer at a European level in implementing DTT and has successfully introduced the analogical blackout two years earlier than the planned EU date. This means that Spanish industry can provide the knowledge acquired in the digital transition process, both in terms of the technology of network planning and in detail engineering and digital content.
Infrastructure development plan - Miguel Sebastián also met with a group of Spanish companies to pass on the Spanish government's support for their activity in Panama. The Panamanian government has implemented a five-year infrastructure plan with a budget of 13.6 billion dollars, apart from the extension to the Panama Canal. This manifests their clear commitment to first-class infrastructure such as ports, tunnels, bridges, urban transport, etc. Spanish companies have great international experience in executing infrastructures and some of them are world leaders in this respect. A number of Spanish companies have won key contracts in Panama such as the extension of the Canal and the Metro project.
The execution of these projects will provide a positive demonstration with a view to future tenders, both in Panama and other countries in the region, and of the image of Spain itself. The Spanish Government provides cover for these operations through CESCE, a company with mainly public capital that provides risk insurance and financial and trade advice abroad.
During the trip to Panama, Miguel Sebastián visited the works on the Atlantic side of the Canal being carried out by Sacyr Vallehermoso to learn at first hand the technical details what is one of the biggest engineering works in the world. Sacyr heads up the consortium that is constructing the third set of locks for the extension of the Canal. The contract is worth over 3 billion dollars, while FCC and Typsa are also participating in other Canal expansion projects. At the end of October, FCC also won the contract for constructing the Metro in Panama, worth over 1.4 billion dollars.
************
Original Source: Panama-Guide
Date Retrieved. November 15, 2010.
