Panama Fruit began operations at its new storage and processing plant for pineapple and orange juice, located in the province of Cocle.

The Republic of Panama signed the Multilateral Convention to Implement Tax Treaty Related Measures to Prevent BEPS – MLI, along with other countries that had previously expressed their intention to do so.

Copa Airlines is adding flights from Tocumen International Airport to Villahermosa in Tabasco and Puebla. From August 3 the airline will fly four times a week to each of the Mexican cities.

Following international standards with respect to transparency in commercial activities, the government of Panama has passed Law No. 52 of 27 October 2016.

There are already a total of six special laws that promotes the investment in clean energy, with Law 38 of August 9th, 2016 being the most recent.

The market regulator of Panama has indefinitely suspended the license of the brokerage firm Clever Financial Investment Services, linked to Banco Universal.

Recently, the governments of the People's Republic of China and Panama signed agreements about civil aerial transport, which establish the basis to define routes for commercial or cargo flights...

With a total of US$7,376.6 million, the Panama Stock Exchange (BVP, as per its initials in Spanish) broke the historic record of negotiations registered in 2012, with a 10.6% increase...

Also beginning February 2016, Turkish Airlines will be operating three weekly flights between Panama City and Istanbul, with a stop-over in Bogota.

Panama banking center assets have grown by 35% in the last three years.

The Superintendence of Banks has recently adopted Regulation No.2-2004 of December 29, 2004 for purposes of regulating the acquisition asset portfolio and/or assignment of deposits of a locally licensed bank by another banking institution.

Foreigners that have remained outside of the national territory for more than six (6) years must file a new immigration request.

In related news, Air Costa Rica, which is actually a joint venture with Air Panama, successfully concluded the certification process to become an official air carrier earlier this month.

Emirates Airline announced its plans to launch services to Panama City, beginning 1st February, 2016.

In a recent meeting with National Coordinators of the Financial Action Group for Latin America (GAFILAT), it was announced that Panama was designated as Vice-President for 2017 and President for 2018.

Applicants will now need to file fully translated financial statements, which must be audited or certified by an independent certified public accountant.

The Superintendence of Banks has adopted Resolution No.1-2004 of December 29, 2004, whereby certain requirements are set forth regarding the authorization that this regulator must issue to all to any merger and acquisition transactions or the transfer of shares of banks and economic groups.

Previously, the majority of their products destined for Central or South America had to move into Mexico or through Miami before being distributed.

Several provisions are incorporated to our Commercial Code to allow the spin-off of companies as a form of reorganization.

There will also be state-of-the art warehouses, a secure and uncongested access road and fast truck turnaround times.