New Delhi is mulling over opening a logistics hub for Indian companies in Panama, external affairs minister S Jaishankar recently said. He was on a visit to the Latin American nation. Such a hub can help Indian textile and apparel exporters.

"Much of the talks were devoted to how to deepen our friendship, and how to expand our cooperation. Among the specific issues we discussed were those pertaining to trade and investment, the possibilities of exploring a logistics hub here for Indian companies," Jaishankar, who met President Nito Cortizo and his counterpart Janaina Tewaney Mencomo, was quoted as saying by global newswires.

Jaishankar, in his keynote address at an India-Latin America business event, mentioned ten reasons why business collaboration with Latin America has strong merits and endeavours. India’s trade with Latin America is growing and nearing $50 billion, he said.

Both sides deliberated on the challenges of affordable health of more decentralised production of medicines in the world, including in this region and discussed possibilities in energy and in renewables.

Jaishankar is on a nine-day trip to Guyana, Panama, Colombia and the Dominican Republic.

Fibre2Fashion News Desk (DS)

New Delhi mulls logistics hub for Indian firms in Panama: S Jaishankar

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