‘This is a historic moment for relations between India, Latin America

‘This is a historic moment for relations between India, Latin America

SYNOPSIS
On the ISA, the ratification process on Tuesday passed the third discussion in (Panama’s) Congress and we will soon be ratifying this agreement.

New Delhi: Panama is set to join the International Solar Alliance (ISA) imminently, the country’s foreign minister Janaina Tewaney Mencomo said in an interview.

In a sign of deepening cooperation in energy, India and Central American countries like Panama will establish joint working groups to enhance the energy partnership. Similar groups on tourism, pharmaceuticals and women’s empowerment are also to be set up following external affairs minister S Jaishankar’s visit to the region. A large Latin American conclave is set to be hosted in New Delhi in August, following which, Panama is expected to send a business delegation to India. Edited excerpts.

You have said Panama wants to be a hub for Indian businesses in the region: are there any key priority sectors?

Panama is a hub because of our geography. India and Panama are discovering each other and we have understood that our geographic position and our logistic capabilities can make Panama a hub for Indians. It’s important to highlight also that the meeting between the SICA countries and S Jaishankar was really important. The SICA countries together have a population of 60 million people. We are currently focusing on tech and agriculture. The exports of motor bikes from India are also present. The most important point here is that the strategic position of Panama will allow India to diversify and to operate in the whole continent. Indian companies like Hetero Drugs, TVS Motor, UPL and MSN are already operating in Latin America and some of them are moving to Panama to start operating throughout the continent.

Will there be some trade and investment agreements such as a free trade agreement between India and Central American Integration System (SICA)?

In SICA we have established a roadmap with India and working groups have started trying to identify and execute the possible meeting points where we can cooperate. We are talking about tourism and pharma through these groups. For example, on pharma, we were talking about buying drugs in bulk. We also spoke about technology and also about women empowerment.

What I can also tell you is that Jaishankar has given the invitation for us to go to India in August where there’s going to be a Latin America-India conclave. The President has committed to send a high-profile delegation to present and show the country to businessmen.

We are expecting businessmen from India to visit Panama soon. You will see a lot more Latin American presence in this next Conclave. This is a historic moment and there’s going to be a “before” and “after” when it comes to the relations between India and Latin America.

Panama has signed but not ratified the framework agreement to join the International Solar Alliance. Any updates on that?

On the ISA, the ratification process on Tuesday passed the third discussion in (Panama’s) Congress and we will soon be ratifying this agreement.

EAM Jaishankar also mentioned that a business delegation from Panama is going to India later this year. When is this likely to be?

We are organizing a group of high level officials to visit in August, but we also expect to organize a big group following up with a visit most probably after August.

 

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