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Viewing cable 09PANAMA584, PANAMA DATA FOR U.S. BIENNIAL CARIBBEAN BASIN

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Reference ID Created Released Classification Origin
09PANAMA584 2009-07-23 21:17 2011-04-11 00:00 UNCLASSIFIED//FOR OFFICIAL USE ONLY Embassy Panama 
VZCZCXYZ0000
PP RUEHWEB

DE RUEHZP #0584 2042117
ZNR UUUUU ZZH
P 232117Z JUL 09
FM AMEMBASSY PANAMA
TO RUEHC/SECSTATE WASHDC PRIORITY 3611
INFO RUEHRC/DEPT OF AGRICULTURE WASHDC PRIORITY
RUCPDOC/DEPT OF COMMERCE WASHDC PRIORITY
RUEATRS/DEPT OF TREASURY WASHDC PRIORITY
 
UNCLAS PANAMA 000584 
 
SENSITIVE 
SIPDIS 
 
PASS TO USITC-LYN M.SCHLITT 
 
E.O. 12958: N/A 
TAGS: ECON OTRA PM
SUBJECT: PANAMA DATA FOR U.S. BIENNIAL CARIBBEAN BASIN 
INVESTMENT SURVEY 
 
REF: STATE 60543 
 
1. (U) This cable is in response to reftel. 
 
2. (SBU) Post obtained from the Ministry of Commerce and 
Industries a list of every Panamanian business that exported 
under the Caribbean Basin Economic Recovery Act (CBERA) as 
amended by the Caribbean Basin Trade Partnership Act (CBTPA). 
 All 145 businesses were called by phone and we emailed all 
businesses from which we were able to obtain email addresses. 
 We received data from only six businesses.  The data are in 
the following format: 
 
A. NAME OF COMPANY 
B. INVESTMENT AMOUNT 
C. IS THIS A NEW INVESTMENT OR EXPANSION INVESTMENT 
D. TYPE OF PRODUCT TO BE EXPORTED 
E. ESTIMATED VALUE OF EXPORTS TO THE UNITED STATES 
F. WOULD PROJECT HAVE BEEN LAUNCHED TN THE ABSENCE OF 
CBERA/CBTPA 
 
 
1) VERBA ODREC S.A. B. $500,000 C. EXPANSION INVESTMENT D. 
PINEAPPLES E. $500,000 F. YES 
 
2) HACIENDA LOMA LINDA S.A. B. NO ANSWER C. EXPANSION 
INVESTMENT D. ORCHIDS CUT FLOWERS E. $125,000 F. NO 
 
3) AZUCARERA NACIONAL S.A. B. $9,862,000 C. EXPANSION 
INVESTMENT D. RAW CANE SUGAR ON BULK E. $3,518,000 F. YES 
 
4) VIDRIOS PANAMENOS B. $13,753,177 C. EXPANSION INVESTMENT 
D. GLASS PRODUCTS E. 4,4000,000 F. NO ANSWER 
 
5) CENTRAL AZUCARERO DE ALANJE S.A. B. $1,264,977 C. 
EXPANSION INVESTMENT D. RAW CANE SUGAR ON BULK E.$4,000,000 
F. NO ANSWER 
 
6) FARALLON AQUACULTURE S.A. B. $1,616,584 C. EXPANSION 
INVESTMENT D. SHRIMP E) $4,671 F. NO ANSWER 
 
3. (SBU) The GOP strongly believes that the CBERA promotes 
Panamanian exports to the United States and promotes job 
creation in Panama.  However, there is a lack of hard data 
for any broad conclusions; the data above are too limited to 
make statistical inferences.  However, the self-reported 
estimated value of exports to the United States for just 
these six companies, over twelve million dollars, is a 
substantial percentage of the $377 million in Panamanian 
exports to the United States in 2008. 
GILMOUR