Panama wants Mexico to lead regional common market

Panama vice president, José Gabriel Carrizo, called on Mexico on Monday, October 7  to lead the formation of a common market in Latin America that facilitates the development of the region and allows it to compete with the rest of the world.

“In Latin America, we have a market of 700 million people and we have not been able to do it (unify it). That is why we are here, to invite you to join forces and work as a single block that prevents us from falling behind,” Carrizo said during a business forum organized by Forbes in Mexico City.

Carrizo gave as an example of the free trade agreement of Mexico with the United States and Canada, the integration of the countries of the European Union and the free trade agreements of several Asian countries.

“Only together and united in a single block will we be able to conquer the borders that distance us from equity, competitiveness and development,” said Carrizo, who attended the forum on behalf of the president of Panama, Laurentino Cortizo, 

Carrizo said that of the two economic powers of Latin America, which are Mexico and Brazil, the North American country starts with the “advantage” to lead the common market since it shares the language of 500 million people.

“A great power has a great responsibility and it is time to act. The first step is internationalization to consolidate the economic bloc and the logical market to begin this internationalization is Central America and the Caribbean,” said Carrizo

He commended the virtues of Panama, such as its link with the dollar, its socio-political and economic stability, the regulations that facilitate the installation of multinationals and the fact of having “the best connectivity in Latin America.”

“Panama has a government that begins its five-year period that creates and facilitates access to private companies. We are here to open the doors to Mexican investments to establish themselves in Panama and bet on the consolidation of the block,” he said.

Carrizo said that only in this way can Latin America “compete and win on the stage of the developed world.”

The vice president said that Panama is a hub of hubs and has the highest foreign investment per capita and the highest  GDP per capita in Latin America.