Panama is a country located on the isthmus linking Central and Southern America.The country has a Gross Domestic Product of nearly 60 billion dollars, and a population of 4.2 million people, making it one of the fastest growing economies on the continent. President of Panama, Juan Carlos Varela has said that his country would open an Embassy in Abuja very soon. The reason behind the decision to open the embassy was to develop the relationship between Panama and Nigeria.
President Varela revealed the plans while exchanging views with Nigeria’s Ambassador to Mexico, Mr. Aminu Iyawa, who presented his letter of credibility as a non-resident Ambassador to the Central American country. He stated that opening an Embassy in Nigeria was particularly necessary, with Nigeria being the most influential and populous country in Africa.
The President described that Panama appraised Nigeria as the ‘giant of Africa’. Mr. Aminu Iyawa had earlier mentioned to the President that both countries could benefit from mutual cooperation in the areas of ports administration and operations, maritime security, agriculture and higher education. According to the Nigerian delegate, the administration of President Muhammadu Buhari had put together the most attractive incentives ever, such as visa on arrival, tax breaks and the repatriation of capital in full, for prospective investors.