Panama pitches its maritime network to Tamil Nadu businesses

The unparalleled connectivity, professionalism, and platform that Panama possesses can be utilised by brands and companies from Tamil Nadu to promote their products and expand their markets, said Alonso Correa Miguel, Ambassador of Panama to India.

Panama is the natural bridge between North and South America and the logistical link between the Pacific and the Atlantic oceans, he said while speaking to businesspersons in Chennai on Friday (October 23, 2026). Maritime and pharmaceutical businesses from Chennai explored opportunities in Panama and the Latin American region at the event, titled ‘The Panama Advantage – Maritime & Pharma Gateway to Latin America’.

Panama connects world trade through the Canal, the Colón Free Zone, one of the largest ship registries, and a dollar economy serving 20 Latin American markets. “Tamil Nadu, with an economy about four times the size of Panama’s, exported around $59 billion worth of goods in 2025-26 and accounted for a third or more of India’s electronics and vehicle exports. Panama can give Tamil Nadu’s manufacturers a single base for Latin America. Tamil Nadu can give Panama cargo for its Canal and new terminals, tenants for its free zones, ships for its flag and skilled seafarers,” Mr. Miguel said.

He made an elaborate presentation in which he noted that, with coastlines on both the Pacific Ocean and the Caribbean Sea, Panama hosts five of Latin America’s top 10 ports. These ports accommodate more than 20 international shipping companies operating out of Panama and offer direct cargo services to 152 ports in 54 countries.

The Panama Canal alone handles 2.3% of global trade, linking 1,920 ports worldwide through 180 maritime routes that serve approximately 170 countries. The Panama Canal, a key maritime route, handles over 423 million PC/UMS tons of cargo annually. Ports such as Manzanillo and Balboa handle 9.4 million TEUs per year.

Mr. Miguel said that companies operating in Panama and seeking to export their products from any of the more than 23 free zones or special production zones and regimes in the country could benefit from a range of tax incentives designed to encourage production. Additionally, Panama has signed 23 trade agreements covering 59 countries, 11 of which are in the Americas. “This allows companies that operate from Panama to introduce their products to these markets without facing import taxes,” he said.