Monday, November 01, 2010

Panama and Taiwan start talks for signing of Double Taxation Agreement

Photo: With this meeting the Panamanian delegation, lead by the president, Ricardo Martinelli concludes its Asian tour. Photo / Courtesy of the Presidency

During a meeting with Panamanian businessmen and Taiwan, the president, Ricardo Martinelli, announced that the two countries begin talks on signing an double taxation agreement.

"Panama respects foreign investment and we are open to receive new investments," said Martinelli to Taiwanese businessmen who mentioned that with the signing of the Free Trade Agreement, Taiwan companies have invested heavily in developing the service transportation, technology, among others.

On another topic, Martinelli presented to entrepreneurs in Taiwan's competitive advantages offered by the country to foreign investment.

"In Panama they have opportunities to invest in agriculture, real estate, among other areas, where already several companies that have entered this Asian country," he said.

For its part, Taiwan's deputy foreign minister, Thomas Hou Ping-fu noted that Panama is Taiwan's staunchest ally in Central America that have maintained diplomatic relations for more than a century and that these bilateral ties have increased after the entry into force the Free Trade Agreement between both countries, as Taiwanese investments in Panama have increased by over 215 million Dollars.

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