The Panamanian Government, under the administration of H.E. Ricardo Martinelli, President of Panama, is carrying out the project of construction of Metro in Panama City, in order to establish a fast, efficient and integrated mass transportation system for the citizens. The Metro is expected to be in operation in 2014.

According to the January 26^th issue of the prestigious Forbes magazine, Panama is shown as a country with a great variety of tourist attractions. The ongoing development projects such as the Panama Canal Expansion, the opening of international hotels, various world heritage areas, many new restaurants and bars as well as the Biodiversity Museum designed by architect Frank Gehry are mentioned as factors leading to the attractive image of our country. The article also indicates that Panama City is transforming into an energetic and modern metropolis.

The article of Forbes can be viewed at: http://www.forbes.com/sites/forbestravelguide/2012/01/26/why-your-next-trip-should-be-to-panama/

According to a New York Times publication on January 6, Panama was selected as the best place to visit in 2012 among 45 sites. The country’s economic growth, development projects such as the Panama Canal expansion and a variety of tourist attractions were cited as factors leading to this selection.

It is important to point out that Panama received more than 2 million tourists in 2011 for the first time, and it is expected further growth for the tourism sector in the coming years.

The article of New York Times can be viewed at: http://travel.nytimes.com/2012/01/08/travel/45-places-to-go-in-2012.html?pagewanted=all&smid=fb-share

On December 31, Celestino “Pelenchin” Caballero defeated Japanese challenger Satoru Hosono, by unanimous decision of referees with the following scores: 116-111, 119-108 and 119-108. The Panamanian champion in the category Featherweight of the The World Boxing Association made his first title defense at Bunka Gym in Yokohama city.

Caballero arrived in Tokyo 10 days before the match to carry out an intense and final training at Teiken Gym, where he received the visit of H.E. Jorge Kosmas Sifaki, Ambassador of Panama to Japan, who conveyed him words of support and wishes for success in his next fight.

After this victory, the Panamanian boxer maintains a record of 40 fights with 36 wins and 4 defeats.

In the center, Panamanian boxer Celestino "Pelenchin" Caballero, accompanied by H.E. Jorge Kosmas Sifaki, Ambassador of Panama to Japan (on his right), Mr. Ritter N. Diaz, Economic Counsellor of the Embassy of Panama and other members of the training team.

On the left, Panamanian boxer Celestino "Pelenchin" Caballero during the fight

By unanimous decision of referees, the Panamanian boxer is declared the winner.

The Food Safety Commission of the Cabinet Office of Japan issued a Food Safety Risk Assessment of Panamanian Beef and Beef Offal Imported to Japan, declaring that Panama beef has a negligible risk of contracting Bovine Spongiform Encephalopathy (BSE-Mad Cow Disease).

The result of the assessment places the safety of Panama beef in a good position to continue exports to Japan.

It is important to point out the continued efforts of the health and agricultural authorities of Panama to closely monitor the safety of all food produced in the territory of the Republic of Panama.

Access to the Assessment Report can be viewed at: http://www.fsc.go.jp/english/evaluationreports/prions/bse_panama.pdf

On October 12^th, 2011, the United States Congress approved the Free Trade Agreement (FTA) with Panama.

The entry into force of FTA will provide Panama with an access to a market of 300 million consumers.

On October 18^th, Ricardo Quijano, Minister of Trade and Industry of Panama, will visit Washington in order to launch the implementation of the treaty. It is expected that the FTA will come into force in eight months.

On June 2^nd, 2011, Fitch Ratings agency raised the credit rating of Panama a step further from “BBB-“ to “BBB”, upgrading its outlook to stable.

Fitch cited strong prospects for growth of Panama as well as the favorable dynamics of the Government’s debt, strengthening Panama’s investment grade.

After years of rapid economic expansion and budget reduction, Panama received his first note in the category of Fitch investment grade last year. Moody’s and Standard & Poor’s soon followed suit.

The improvement of investment grade means that Panamanian debt is among the best qualified of Latin America, placing Panama only below Chile.

“The growth of Panama momentum has eclipsed most of their peers in qualification and it is expected that this trend will continue,” said Shelly Shetty, who heads the sovereign ratings of Fitch for Latin America.

Panama, which uses the dollar as currency and which administers one of the most important path between the Pacific and Atlantic oceans, has emerged as a winner of the growth of world trade.

About 4% of global trade passes through the Panama Canal and the country also exports products from ports located on both oceans.

(Source: Panama newspaper La Prensa, June 2, 2011)

On May 24^th, 2011, a new variety of coffee called Geisha Natural was introduced for the first time at the fifteenth international Internet auction “the Best of Panama”, which took place in Boquete, province of Chiriqui, reaching the highest price in the said auction.

Geisha Natural coffee, produced by Don Pachi Estate, obtained the highest price of $111.50 per pound. Two leading Japanese companies, Bach Kaffee and Saza Coffee, bought 100 pounds of coffee from Don Pachi Estate, amounting to $US11, 150.00.

The second place went to Geisha Natural coffee “Colga Alfa”, produced by Hacienda La Esmeralda, which obtained a price of $US88.50 per pound, selling 150 pounds to Saza Coffee.

The third position went to “Kotowa Don K” with the same variety Geisha Natural, which sold 150 pounds to the Japanese company Horiguchi Coffee at a price of $36.50, paying a total amount of $US5, 475.00.

Notably, the highest-price-paying buyers of Panamanian specialty coffee at the auction were Japanese companies. U.S., Asia, Australia, Canada and European companies participated in the auction, purchasing in total 122.5 quintals (about 5,635kg), amounting to US$176,837.50.

Francisco Serracín, member of the Specialty Coffee Association of Panama (SCAP) and owner of Don Pachi Estate, indicated that the international market evaluated favorably the new variety Geisha Natural coffee. He said that Panama coffee has become a model of high quality vis-a-vis coffee from other countries.

Rachel Peterson from Hacienda La Esmeralda, who is currently serving as president of SCAP, mentioned that the characteristics of Panamanian coffee are special for Asian market. She added that today Geisha coffee, especially from Panama is well liked in the world markets, due to its pleasant jasmine, citrus and mandarin flavor.

The World Organization for Animal Health (OIE), in France, admitted Panama into the category of “negligible risk” for bovine spongiform encephalopathy, better known as mad cow disease.

The entry of Panama into this category reaffirms the commitment of country to carry out good policies and practice to guarantee food safety in Panama and the international markets.

Only 6 countries in America and 14 countries in the world have achieved this category.