India is exploring the possibility of opening a logistics center for Indian companies in Panama, External Affairs Minister S Jaishankar said, declaring that the country’s trade with Latin America is growing and is close to USD 50 billion.
The minister arrived in Panama on Monday from Guyana. He called on President Nito Cortiz and gave him the personal greetings of Prime Minister Narendra Modi.
S Jaishankar tweeted: Its strong resonance with Prime Minister Modi’s ‘Panch Prann’ reflects the strength of our Global South bonds and shared worldview logistics. I appreciate his leadership in advancing our bilateral and multilateral partnership.
Cortizo says they talked about the will to form an alliance with the Indian pharmaceutical industry to achieve quality, effective and cheaper medicines for Panamanians.
Nito Cortiz tweeted: We discuss trade exchange between Panama and India and the benefits our country offers for the establishment of more companies; also cooperation opportunities and our interest in developing a center of technological excellence and innovation.
S Jaishankar also met his counterpart Janaina Tewaney Mencomo and discussed ways to strengthen bilateral relations & says large part of the talks was about how to deepen our friendship and how to expand our cooperation. Among the specific issues we discussed were those related to trade and investment, the possibility of exploring a logistics center here for Indian companies.
Mencomo tweeted: It fills me with joy to receive my counterpart @DrSJaishankar at the Bolivarian Palace. Accompanied by a high-level delegation from the national government, we share the progress and potential of our country as an energy and logistics center and as a strategic business and investment point.
Pharmacy of the World
Mencomo said her meeting with Jaishankar was an opportunity to discuss topics on the common agenda and strengthen the bilateral relationship based on shared values.
 Jaishankar also delivered the keynote address at the India-Latin America trade event here on Monday. He outlined ten reasons why India’s trade cooperation with Latin America has strong strengths in logistics and efforts.
He says India-Latin America trade, which is close to USD 50 billion, has a very diversified basket. A significant increase in investment and interest in mining, energy, agro and infrastructure will drive it further, with the country’s game-changing transformation in manufacturing, infrastructure, Logistics, innovation and start-up culture & by providing vaccines to 100 countries and medicines to 150 countries, everyone welcomes India’s designation as the “Pharmacy of the World”.
A robust digital backbone in India enables the provision of public goods and tools for doing business, Picking up manufacturing through manufacturing incentives and supporting supply chains and SMEs. Indian products are a natural fit for the Latin American middle class, Jaishankar said.
Indian project execution has grown across geographies and Made in India and Delivered by India are becoming a reality globally, Indian agriculture is making strides in yield, quality and technology. This has external consequences, he said.
Jaishankar also met members of the National Civil Defense System in Panama of Indian origin. After visiting Panama, Jaishankar will visit Colombia where he will meet several top officials of the country and review bilateral relations with his Colombian counterpart Alvaro Leyva Duran.
Written by: Vaishali verma
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