President Varela travels to Germany seeking investment


On 16 October 2016, Panamanian President Juan Carlos Varela traveled to Germany with a delegation as part of a mission to seek new investments in the maritime, transportation, and tourist sector (TVN Noticias). The agenda will include around twenty activities in the German cities of Berlin, Hamburg, and Munich and will include investment promotions; discussions with port and transportation authorities; presentations with tourist operators and transnational German companies established in Panama or are interested in establishing operations in the country. In a meeting with German Chancellor Angela Merkel, she praised the rapid response and actions taken by the government during the “Panama Papers” scandal (La Estrella). President Varela added, “our actions will put the facts beside our words in the commitment towards greater transparency in our financial system.”