The President of the Republic of Panama, José Raúl Mulino, made an official visit to Brasilia this week, which included a meeting with his counterpart Luiz Inácio "Lula" da Silva, the signing of economic agreements, and his participation as the keynote speaker at a business forum aimed at promoting Panama to the Brazilian private sector.
Mercosur and regional integration
According to the Brazilian government's information to the press, at the meeting at the Planalto Palace, Lula - who currently holds the six-monthly presidency of MERCOSUR - continues to actively promote the regional external agenda of the South American blocIn his words: “We instructed our teams to move forward with negotiations for a trade agreement and an investment promotion agreement with Panama, which could subsequently be extended to other MERCOSUR partners.", Lula said.
Panama has held the status of Associate State since December 2024, Following the signing of Economic Complementation Agreement (ACE) No. 76, which establishes the progressive liberalization of trade in goods and services, encourages reciprocal investment, and strengthens regional economic and logistical integration.
Brazil-Panama bilateral relationship
Beyond this announcement, President Lula emphasized that Mulino's visit represents "the beginning of a new phase in relations between Brazil and Panama," after 17 years without presidential visits. He emphasized that the bilateral relationship must be two-way, with shared benefits and a balanced trade balance:
"There can't be a relationship in which one country has a very large trade deficit with the other, because that creates difficulties even internally, in the National Congress, and among business leaders in each country."
Brazil's National Confederation of Industry (CNI) highlighted that bilateral trade totaled US$6.500 billion over the last decade. By 2024, Brazilian exports to Panama will reach US$905 million, a 197% increase compared to 2015, consolidating Panama—with the highest per capita income in Central America—as a promising market for more than 600 Brazilian products.
Lula also reaffirmed Brazil's support for Panama's sovereignty over the Canal, which it has administered efficiently and neutrally for more than 25 years, and announced that Brazil will join the Canal's Permanent Neutrality Treaty, signed by more than 140 countries.
In terms of bilateral cooperation, memoranda were signed in agriculture, technology transfer, and animal health, as well as an investment facilitation agreement to provide legal security for businesses. Lula congratulated Mulino on the purchase of four Super Tucano aircraft from Embraer and highlighted the importance of expanding cooperation in logistics, maritime transport, and science and technology.
Safety, environment and sustainability
Both leaders agreed to strengthen strategic ties between the region's largest economy and the main logistics hub of Latin America and the Caribbean. Brazil and Panama They reaffirmed their commitment to multilateralism and sustainable development, and agreed to work together in international forums and on the environmental agenda ahead of COP30, which will be held in 2025 in Brazil.
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