Doing Business in Panama
Panama imports over $2 million in North Dakota annually, with primary exports from vehicles, except railway or tramway, and parts (47.38%), edible vegetables and certain roots and tubers (28.48%), industrial machinery, including computers (19.95%), and meat and edible meat offal (2.15%) in 2022. If you are considering entering this market, there may be opportunities in medical equipment, cyber security, disposable medical supplies, and specialty food products. When doing business here, keep these few cultural tips in mind.
- In Panama, a person's reputation is very important, and if you break a promise, the business relationship may be irrefutably damaged.
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The most common business greeting in Panama is a handshake, accompanied with a warm smile and direct eye contact.
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When the business discussions begin, take notes during presentations to demonstrate your interest in the topics at hand.
- Men wear conservative, dark business suits, either black, dark gray, or navy, with a tie and a white shirt.
- Women wear conservative suits to business meetings. Women may wear business dresses or blouses with skirts or trousers.
All of this information and more is accessible through the AtoZ World Trade Database, available to you with your NDTO Membership.
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