President Juan Carlos Varela of Panama has said that his country would soon open an Embassy in Abuja.
The decision to open the embassy was taken to cement the relationship between Panama and Nigeria.
Varela unveiled the plan while exchanging views with Nigeria’s Ambassador to Mexico, Mr. Aminu Iyawa, who presented his letter of credence as a non-resident Ambassador to the Central American country.
Varela said opening an Embassy in Nigeria was particularly important, being the most influential and the most populous country on the African continent.
The President said that Panama highly valued Nigeria as the ‘giant of Africa’.
Earlier, Iyawa had told the President that the two countries could benefit from mutual cooperation in the areas of Ports administration and operations, maritime security, agriculture and higher education.
The Nigerian envoy also said that the administration of President Muhammadu Buhari had packaged the most attractive incentive for prospective investors ever.
According to him, the attractive incentives include visa on arrival, tax breaks and the repatriation of capital in full.
With a Gross Domestic Product of nearly 60 billion dollars, and a population of 4.2 million people, Panama is one of the fastest growing economies in the Americas.