PANAMA at the gates of China's commercial inauguration, CIFTIS 2020

The China International Trade Fair for Trade in Services, CIFTIS, opened in Beijing last September.

October 19-19, 2020

CIFTIS 2020, organized by the Ministry of Finance and Trade of the Popular Republic of China, in conjunction with the Municipality of Beijing, chose to be held in two modalities, digitally to continue with the commitment to preserve the health and integrity of all those involved and in person, with a duration of one week for those interested in attending, complying of course with the sanitary measures imposed by the authorities of the country. 

For this occasion PROPANAMA, with the support of the Embassy of Panama in China, had the opportunity to place a space to expose its Free Zones (Colon Free Zone, Panama Logistics Park, Panama Pacifico, among others) and promote the services offered by Panama as a world-class logistics center, achieving through the coexistence of more than 22,000 companies and institutions both domestic and foreign. 

In addition, for this year the CIFTIS 2020 exhibited among 190 forums, exhibitions and business talks covering 12 major trade sectors such as transportation, travel, construction, insurance services, financial services, telecommunications, computer and information services, as well as cultural services.  

The event was used to convey confidence, promoting the resumption of economic activities, contributing to further progress in globalization and supporting multilateralism, playing a positive role in reducing the impact of the pandemic and promoting global economic recovery.  

The face-to-face fair concluded on September 9, but its virtual mode through the CIFTIS platform, allows it available the remaining days of the year to provide an endless experience for both Chinese and foreign entrepreneurs, with the aim that negotiations, exchanges and cooperation continue to appear.  

Being considered to participate in this CIFTIS event creates great opportunities to enter fully into the global trade in services and adapt new modalities to improve in fields such as global digitalization and e-commerce. 

The future of trade in services is expected to be shaped by four trends: digitization, rising incomes, demographic development and climate change.