Economy

Panamanian companies exceed expectations in Europe

The Authority for Investment Attraction and Export Promotion (PROPANAMA), Panama’s state investment promotion agency, recently announced that the participation of Panamanian companies at the prestigious Fruit Attraction 2024 trade fair has exceeded expectations, achieving record results.

The event, which took place from October 8 to 10 at IFEMA Madrid, is one of the leading business platforms in the global horticultural sector. This year’s fair attracted over 115,000 visitors from 56 countries and showcased 2,100 exhibiting companies, marking a 7% increase compared to the 2023 edition.

A Strong Representation from Panama

A total of 16 Panamanian companies from the horticultural sector showcased their products at the fair, including Agroexport Pacific, Capitán Piña, Industrias 4.0, Panamá Squash, Tropical Fruit S.A., Jardines Urbanos, Greenlab Biotechnology, C.A.T.C., Isalbert Fruits, Paisa, Tres Piñas, Producción Azuero T.J.S., Güsto Fruits S.A., Dragon Fresh Fruits, Grupo Caimito Fruits, and Bouqueron Trading Company. These companies presented a range of products such as pineapples, papayas, pitahaya, and watermelons, generating significant interest from international buyers, as evidenced by numerous testimonials received.

Promising Results

During the fair, Panamanian businesses secured over 40 daily appointments with potential buyers from key markets including Spain, France, Italy, the Netherlands, the US, and Dubai. This culminated in 115 expressions of intent to purchase, with an estimated total value of USD7,789,000. These figures reflect the growing interest and confidence in fresh Panamanian products within international markets.

Complementary Activities & Strategic Alliances

In addition to exhibiting their products, PROPANAMA organized a “Panama Day” at the Mercamadrid stand, one of Europe’s main food distribution platforms. This event prominently featured Panamanian products such as pineapple, papaya, and pitahaya, enhancing Panama’s visibility and competitiveness in strategic markets.

Furthermore, representatives of the participating Panamanian companies visited the Mercado de la Paz, one of the most exclusive and traditional markets in Madrid, located in the Salamanca neighborhood. Notably, this market is unique in that it offers fresh and dried products through the “Amazon Prime Now” application. The market manager extended an invitation to the Panamanian companies to join its exclusive product offerings, opening up opportunities for positioning Panamanian goods in new sales channels.

A Promising Future Ahead

Panamanian entrepreneurs expressed their satisfaction with the outcomes achieved at Fruit Attraction 2024, emphasizing the importance of strengthening their strategic alliance with PROPANAMA, which aims to enhance the distribution of Panamanian products in international markets. Under the leadership of President José Raúl Mulino, PROPANAMA is committed to continuing efforts to boost Panama’s production and export capacity, ensuring participation in major global fairs to competitively open new business opportunities for the country’s products.

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