Saturday, 16 March 2024 03:21

El Salvador and Panama formalize the Cámara Panameña Salvadoreña de Comercio

Written by Karla Gutérrez

Panama and El Salvador took a very important step for trade relations by formalizing the Cámara Panameña Salvadoreña de Comercio (Campasalco), an entity that will aim to boost investment and bilateral trade.

In 2023, trade between the two nations totaled US$130 million, US$121 million moved from El Salvador to Panama, and US$9 million from Panama to El Salvador.

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The launch was made in the framework of the commemoration of the 115th anniversary of the establishment of diplomatic relations between El Salvador and Panama.

There, the Vice Minister of Foreign Affairs highlighted the important rapprochements in political, economic, investment and cooperation matter that have taken place in the last 5 years.

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The person in charge of leading this new commercial effort is Victor Silhy, a renowned businessman in the pharmaceutical sector in El Salvador, who took over as president of the association, and who thanked the Panamanian ambassador in El Salvador, David Palacios, for his determined work to make the creation of Campasalco possible.

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Panama's ambassador to El Salvador underscored the importance of launching the chamber when the two countries are celebrating 115 years of diplomatic relations.

For the diplomat, this is a milestone that reflects the continued commitment to promote economic development and exchange between nations.

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Translated by: A.M