EXPOCOMER

Big deals will thwart crisis

The trade show will bring buyers and sellers from all over the world with the organizers optimistic that business will grow despite recession

FATIMA ASVAT

PANAMA. The XVII Expocomer opened its doors yesterday at ATLAPA, with the President of the organizing committee, Jose Luis Ford, optimistic that this year’s fair was going to be even better than last year’s despite the global financial crisis.

For the President of the organizing committee, the global crisis did not make a significant dent in participation numbers at the most important commercial exhibit in the region, as has happened at similar events in other countries.

Thirty countries from North Central and South America, Europe and Asia were represented, showcasing their products and services to establish important business contacts and promote commercial relationships. Among the largest exhibitors was Brazil, with 70 different stands, followed by Taiwan, with 55.

Ford maintains that the event will bring between $20 and $25 million into the country during the days of the fair (March 4 – 7) through the traffic expected in restaurants, hotels, airports, and similar activities. This bonanza will be in addition to the business transactions that Panamanian companies will embark upon, this year despite the financial crisis. Ford expects Expocomer to generate $150 million in transactions.

According to official records, last year transactions as an outcome to the fair amounted to $128.3 million, while 11,300 business contacts were made and 15,550 people attended the fair

Jose Ramon Varela, president of the Panamanian Chamber of Commerce, is also optimistic, saying that “the number of transactions this year is expected to increase from 2008, or at least remain the same.”

The projected revenues resulting from Expocomer are calculated after a census that asks each exhibitor the amount of transactions expected to result from the fair, both during the event and up to a year afterwards.

Similar optimism was expressed by Enrique Garcia, President of CAF (Corporacion Andina de Fomento), a multilateral financial institution, and guest speaker at the inaugural event.

According to Garcia, Latin America is better prepared to deal with the crisis than it would have been 20 years ago, when “dramatic adjustments” would have been needed. He was particularly hopeful for Panama, which he considers even better prepared to deal with the crisis, quoting its projected 5 - 6 percent GDP growth for 2009 compared to the regional 1.5 percent.

Expocomer will be open exclusively for buyers until tomorrow (Friday), and to the public on Saturday from 11:00 a.m. – 6:30.

Publicidad