NEWSLETTER - JUNE 2015

Introduction

"Welcome to the monthly edition of the World Trade Center Panama Newsletter! Through this monthly newsletter we interconnect our members and inform our tenants by sharing useful information about WTC Panama. We also showcase the ongoing activities and the latest updates on upcoming and past events, as well as the international relationship of WTC Panama with other WTC’s through the WTC Association. " Remy Swaab, Executive Director of WTC Panama.

Close to Home

Maria Elvira Salazar interview at the WTC Panama

The program on RPC, Channel 4; “Maria Elvira Presenta” with anchorwoman María Elvira Selazar, chose to use the WTC Panama Complex as their location to interview the president of the Chamber of Commerce in Panama, Mr. José Luis Ford. This interview took place on the Mezzanine on Saturday the 23rd of May. After the interview the newly refurbished Helipad was used to take photos of the different views of Panama City. To watch the shows of "Maria Elvira Presenta" click here

Cooling towers on top of the Office Tower

The refurbishment of the cooling towers of the Office Tower of the WTC Panama Complex has been finalized. The primary use of the cooling towers is to chill the water that circulates through the tubes of the WTC Panama Complex. Warm water enters the towers and the water-system cools the water and the chilled water is piped throughout the building and connected to the air handlers. The cooled water is between 10°C and 20° C. The water flows through all the offices on all the floors continuously. This is how the air-conditioning in the WTC Panama Complex works. It is, therefore, extremely important that we respect the current operating hours of the air conditioning in the office when the towers have been turned on from 7AM until 7PM. The Administration is working on a project to be able to use the air conditioning outside these hours.

Member Acknowledgment

Words from Firenze Aroma Cafe

We are the new owners of Firenze Aroma Café, located on the first floor, and we have re-opened our doors to offer all members, occupants and visitors of the WTC Panama an excellent service with the famous Italian coffee and the French sweetness. We would like to offer youour "homemade" lunches, that you can also order for takeout. If you would visit us in the morning, you will also discover our delicious breakfast variety: from sandwiches to 'arepas' with egg, stuffed potatoes, croissants and many more very tasteful options. Please come by and be surprised of our variety and quality of our food. We are located on the ground floor of the WTC Panama Complex in the hallway of the commercial area that connects the hotel and the office tower. For more information: Call us: 64505900 or email: aromacafefirenze@gmail.com. Follow us on Facebook and Instagram

Members at Heart

WTC Panama signs MOU with WTC Trieste

World Trade Center Panama and World Trade Center Trieste located in one of the biggest port cities of Italy, have signed a Memorandum of Understanding where they recognized the mutual benefits to be derived from the support of reciprocal investment and trade opportunities exchange. This agreement was signed by Mr. Remy Swaab, Executive Director WTC Panama and Mr. Enrico Samer, President of WTC Trieste during the General Assembly in Manila, Philippines.

Both World Trade Centers agreed to promote economic development focus on business opportunities and promote businesses, especially the Small and Medium Sized Enterprises, within the territories of Panama and Trieste, Italy. WTC Trieste is specialized in providing warehouses and logistic services for importers and exporters all over the world. If you are interested to know more about this new fruitful collaboration, contact WTC Panama: communication@wtcpanama.org

Expo2015 in Milan wants to welcome Panamanian companies

World Trade Center Milan and World Trade Center Pescara would like to welcome Panamanian companies that want to attend the event: "Milan EXPO2015" – Feed the Planet, Energy for Life. This is one of the biggest events worldwide that brings together nations, institutions and people from many different cultures. The event started at the 1st of May and it will last 6 months until October 31st 2015 with more than 140 countries participating. The sites of the Milan Expo2015 have been designed by internationally renowned architects and it comprises an area of 1.1 million square meters. The event will give everyone the opportunity to learn, and taste, about the world’s best dishes while discovering the best of the agri-food and gastronomic traditions of each of the participating countries. More than 20 million guests will be expected to visit this event. For more information about the event, or how to participate in this event, contact: communication@wtcpanama.org

Connected to the World

WTC Panama wins for second time a seat on board WTCA

The 2015 WTCA General Assembly held April 27-30 in Manila, Philippines, was titled "Better Together: Global Unity & Cooperation", featured three days of intense networking, education, and collaboration with WTC Colleagues and the Filipino business community. This 46th General Assembly drew 160 WTC Participants from 86 WTCs, and approximately an additional 50 Philippine business delegates. At this General Assembly was the announcement of the new WTCA Board of Directors. Mr. Remy Swaab, executive director of WTC Panama was elected to represent the Latin American region. This is the second time WTC Panama has a seat on the board, previously held by Mr. Guillermo Ronderos from 2010 – 2015. Mr. Ronderos had made great contributions to the Association whilst on the board and was given an award at the culmination of his term. More information

Visit the 5th Global Economic Summit Mumbai, India

The Global Economic Summit is the flagship annual event of World Trade Center Mumbai and of the All India Association of Industries (AIAI). Having successfully organized four editions of the Global Economic Summit, the 5th edition will deliberate on the theme “Enabling Food for All”. During the summit, that will take place in the Expo Center of the WTC Mumbai from the 19th until the 21st of November 2015, they will discuss new trends in agriculture and food distribution systems in the context of the challenges of food security. It seeks to understand the emerging opportunities and prospects of agro sector through share knowledge, global experience and B2B meetings. More than 30 countries will bring their agronomists, policymakers, technocrats, bankers and trade partners. If you would like to participate or for more information, contact: communication@wtcpanama.org

Panama News

Panama’s logistics platform attracts new foreign investment

Thirteen new companies from eight different countries, including the United States, Venezuela, Israel, China and Belgium, will together invest 30.7 million USD in Panama’s Free Trade Zones (CFZ). Logistical potential, fiscal- and migration benefits are the main reasons for their establishments. The companies are mainly active in distribution and assembling industries. Panama’s Minister of Commerce and Industry stated that the government aims to continue to promote Panama’s logistics platform and that the Free Zones play a crucial part in this. Currently 135 companies are active in 10 free Trade Zones, 8 more Free Trade Zones are under construction. Since its creation in 1948, the CFZ has been a key driver of Panama's economic high performance relative to the rest of Latin America, accounting for nearly 8% of GDP. Located on the Atlantic side of the Panama Canal and considered as the world's second-most-important free trade zone after Hong Kong, the CFZ is a port and major center for duty-free imports and re-exports. It hosts facilities such as warehousing, docks for general cargo, assembly and re-packaging, with some 3000 companies operating in the zone employing 30,000 people. In a bid to rejuvenate the zone, the government is in consultation over a draft plan to update legislation regarding its status. The bill will propose a general streamlining of all trade processes including the introduction of a “single electronic window” for all government-related transactions and a wider move to electronic trading. Other initiatives include the introduction of temporary immigrant permits for business people operating in the CFZ and the creation of a dedicated notary’s office to expedite trade and commercial agreements. More information

Panama at 4th place most expensive cities in Latin America

According to Numbeo, Panama is located on the 4th place of the 10 most expensive cities in Latin America. San Jose, Costa Rica ranks second place, Sao Paulo in Brazil 3rd place and the first place is for Caracas, Venezuela, due to their economic situation in the country. Inflation is the main reason of the continuous increase of prices of goods and services in all these cities. It is also one of the reasons for the workers to demand an increase of the minimum wage, like they are doing in Panama. This, eventually, also leads to an increase of cost and living. The rise of the dollar has led to increases in goods and services throughout Latin America, and life in some of the capitals of the region is as expensive as the great cosmopolitan centers, like New York. In Panama a dinner for two averagely cost $50.00, eating at a fast food restaurant is about $ 6.00; renting a one room apartment has an average cost of $1,700.00 and a full tank of gas with 12 gallons $37.00. The average monthly income in Panama is $776.00. To see more about the 10 most expensive cities in Latin America, click here

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About Us

WTC Panama aims to expand communication, international market culture and business services. The primary goal of the WTC Panama is to bring together the businesses involved in international commerce and provide them with services that will help facilitate growth. WTC Panama connects various economic segments locally and globally and is a member of the World Trade Centers Association. This Association stimulates trade and investment opportunities for commercial property developers, economic development agencies and international businesses looking to connect globally and prosper locally through the exclusive 330 'World Trade Center' branded properties and trade service.