Indian pharma firms to visit Panama for investment opportunities

New Delhi, Jan 16 (KNN) Panama’s Foreign Minister Janaina Tewaney Mencomo said that a business delegation of Indian pharmaceutical companies will be visiting Central American country to explore the investment prospects.

In an interview with Mint, she stressed on Panama’s geographic location as a gateway to North and South America.

Mencomo pitched for increased Indian investments in Panama as she revealed about the pharma delegation visit.

Speaking of the broader India-Panama relationship, Mencomo stated that New Delhi’s outreach and focus to Latin America has sharpened in recent years.

She disagreed to the idea of comparing India and China, and said both of whom are emerging partners, should not be compared to each other.

Reflecting on Indian engagement with Latin America, she told Mint that there has definitely been a gradual increase in India’s outreach to Latin America during the last five years.

“Countries engage on the basis of common interests and values. There has also been increased trade with the region, which may reach around USD 42-43 billion this year,” she said.

Panama was the first diplomatic mission of India in Central America and it remains home to the largest Indian diaspora in Central America. India’s footprint is growing globally and Latin America is a region that Indian business will be thinking of in terms of expansion, she added.   (KNN Bureau)