Its Foreign and Panama Relations For Sustainability and Economic Development

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Panama and its foreign connections issue with two important problems for the development in Panama — international trade and the Panama Canal and transportation. Since Panama is located in the isthmus of Central America, it’s great reason to participate in most foreign counterparts. The number one foreign concern of Panama is focused on the Panama Canal. The history sway over, and its own present function has great impact on the economical and political policy in Panama. The important concern of Panama is to take over its sovereignty of the Canal that has various historical treaties. It sought support from various other countries to renegotiate treaties as Panama needs to get sovereignty over the Canal, that is the leading source of its own commerce and market. At exactly the same time it comprehends its limitation against America who has sway over the construction of the canal.

Secondary to the concern with all the Canal, Panama focused on foreign policy with regards to international trade, banking, and transportation. Because the Panama Canal is crossed over by international boats, Panama gains economical edges over this task. Business and banking are one of the leading economic tasks of its international connections and Panama. Due to the impact of international connections to its economical actions, the policy in Panama has concerns on these economical impacts.

Aside from the concerns on the Panama Canal as well as the international economical sway, Panama and its foreign relations is so much involved in foreign memberships by its involvement in foreign organizations that significantly lead its economical development and sustainability. Since January 1, 2007, Panama served as one who has been elected on the seat in the UN Security Council of the UN General Assembly. It’s also an active member of the international financial institution like Inter- America Development Bank, World Bank and International Monetary Bank. In addition, it’s also an associate of the Inter-American Tropical Tuna Commission. Besides the tuna sector, its international relations and Panama has something related to organizations for exporting. Panama is additionally involved in the Union of Banana Exporting Countries in which it’s but one of the founding members.

Panama and its international relations have led to its development not only in the development of specific sectors but in addition in general development of the state as a portion of America. It popularly called PARLACEN or is an associate of the Central American Parliament, and also the Central America Integrations System or SICA. To boost economic development of the nation, its international relations in America and Panama created the Alliance for Sustainable Development jointly with other six of its own neighbors in Central America. The aim of Panama and its international relations and this coalition called Conjunta Centroamerica-USA (CONCAUSA) is for purposes of supplying national and international policies that support promotion on sustainable development for market of the active states. Eventually, its international relations and Panama are additionally involved in the International Criminal Court in which Panama is a member too. The said foreign organization is a Bilateral Immunity Deal of its own members for the protection of the US military.