As demand for travel to Panama continues to grow, Panamanian carrier Copa Airlines plans to introduce additional service between Panama and T&T. Starting July 7th, the airline will introduce two additional afternoon frequencies on Mondays and Fridays. In August, the airline will introduce a third additional afternoon frequency on Wednesdays, bringing the total number of weekly flights up to 10. The airline will use its Boeing 737-800 and smaller Boeing 737-700 fleet for these services, although this can be adjusted based on demand.
Panama has been a popular connection point for travellers using Copa Airlines’ extensive network at Tocumen International Airport (PTY), but the airline has also seen success with its stopover program. The stopover program allows ticketed passengers to stay in Panama for up to seven days with no additional airfare costs. According to Copa officials, many use it to shop in Panama.
While Panama may be known for shopping, Panama’s Ambassador to T&T, Diomedes Heraclio Carles Cleghorn, tells Guardian Media his country is more than just a shopping destination. With 16 free trade zones in Panama, Cleghorn is looking at the possibility of commercial partnerships. “As everybody states, when I see them is that they love the shopping, but the shopping brings other things. You could probably have a free zone here…and a partnership with the biggest companies [in Panama] that can help,” he said.
President of Greater San Fernando Area Chamber of Commerce (GSFCC) Kiran Singh tells Guardian Media his membership already imports from the Panamanian free trade zones and other distributors. And they want to expand the trade opportunities between the two countries. Among the products T&T currently exports to Panama are tissues and cereal products, but Singh believes more products can be exported to the Panamanian market. He says, “We have persons who are involved in solar panel accessories, so we’re looking at the green energy aspect, as well as some of the accessories that go with personal wear that we could use, what we call indigenous to this country, to export to Panama. And we look to see how leathercraft, the slippers, and those kinds of things that could appeal to the Panamanian people in a Caribbean context is what we’re looking at.”
But whether importing or exporting, Singh says the lack of foreign exchange remains a challenge. He says the chamber is working with the new administration to get what he calls “more equitable distribution” for SMEs. In the meantime, Singh believes T&T needs to use its geographic location to its benefit. He says, “Trinidad and Tobago is well poised as a transhipment point. We are just 7 miles from South America. Venezuela is our closest neighbour, so we can certainly see a lot of benefits with South-to-South trade. We do a lot of South-to-North trade, [but] it’s time to look at what’s south of the border and how that could benefit us as a country. Adding, “We depend too much on the north for supplies. Let’s look to other countries where we can benefit, maybe get competitive pricing on a better scale, especially with the forex challenges that we face.”
For the time being, Ambassador Cleghorn says that for those looking to invest a lot in the Latin American markets, the Panama hub is the right choice. “The people here that come to see me want to invest, but they want to invest big,” he said. “I’ve had meetings with several businessmen that I’m selling to have an office, a regional office. If they want to go big and they want to export to the whole [of] Latin America, they can use our hub,” Cleghorn added. Copa Airlines currently offers cargo in the belly of the aircraft on the passenger flights it runs between T&T and Panama, with the possibility of a freighter aircraft being added if the need arises.
Both men were speaking at the Panama Shopping Tourism Caravan held at the Hilton Trinidad & Conference Centre last week. The event was hosted by Promtur and Copa Airlines.