Mossack Fonseca Panama: Hub for Maritime Trade
November 20, 2015 ― The Judiciary of the Republic of Panama and the International Trademark Association (INTA) signed a Memorandum of Understanding (MOU) that sets forth a foundation for future cooperation between the two groups, and recognizes both the need for robust intellectual property (IP) systems in a rapidly changing and increasingly integrated global economy as well as the central role of Panama in international maritime trade . Panama’s economy and infrastructure have driven its rapid rise in the areas of maritime trade and intellectual property protection. Panama’s Economy Panama has one of the fastest growing economies in the world, to wit: •Over the past 10 years, Panama’s GDP has grown at an annual average rate of 7.8%. •The IMF has projected Panama’s GDP growth at 6.1% and 6.4% for 2015 and 2016, respectively―far outpacing all countries of North and South America. •Poverty levels in Panama have been reduced from 39.9% to 26.2% percent over the pa