Today is the 106th National Day of the Republic of Panama.

Panama is the southernmost country of Central America. Situated on the isthmus connecting North and South America, it is bordered by Costa Rica to the northwest, Colombia to the southeast, the Caribbean Sea to the north and the Pacific Ocean to the south. The capital is Panama City.

Panama is well-known for its canal. The famous Panama Canal is 80 kilometers long and divides the country into its eastern and western regions. It is an engineering marvel and one of the most important waterways in the world. Government revenues collected from activities in the Panama Canal accounts for more than 10 percent of country’s Gross Domestic Product (GDP).

A major factor in Panama’s industry and foreign commerce is the Colon Free Zone, an international trade facility that allows businesses to operate without paying import duties or taxes. Established in 1948 near the northern terminus of the canal, this zone is the largest of its kind in the Western Hemisphere and second only to Hong Kong in the world.

Panama is an international business center and has the largest economy in Central America, followed by Guatemala, Costa Rica, and El Salvador. It is the fastest growing economy and the largest per capita consumer in Central America.

We congratulate the people and government of the Republic of Panama led by H.E., President Ricardo Martinelli, and its Embassy in the Philippines headed by H.E., Ambassador Ivan J. Crespo, on the occasion of their National Day.