Turkish exporters eyes Panama as gateway to Latin America

ISTANBUL

A cargo ship navigates through the Panama Canal, seen from the Cerro Ancon in Panama City, Tuesday, July 29, 2025. (AP Photo/Matias Delacroix)

Turkish exporters are countering the global demand slowdown by targeting new markets, with the Trade Ministry’s "Distant Countries" initiative serving as a cornerstone of this strategy.

In recent months, Latin America has emerged as a primary focus for Turkish companies, with Panama being leveraged as the gateway to unlock this promising market. Meanwhile, a rapidly deepening rapprochement is also underway between Türkiye and this nation of 4.5 million people.

Turkish Ambassador to Panama Armağan İnci Ersoy outlined the key drivers behind this growing interest, highlighting two main factors: “The Panama Canal, through which 6 percent of global trade flows, and television channels that have been broadcasting Turkish series.”

In recent years, Turkish export delegations have increasingly traveled to Panama, a trend significantly supported by Turkish Airlines’ direct flights to the country.

For instance, recent trade missions organized by the Home and Kitchenware Industrialists and Exporters Association (EVSİD) brought Turkish firms face-to-face with major Latin American wholesalers in Panama.

Meetings with major wholesale companies from 12 Latin American countries were held there. This was the third visit to Panama by EVSİD members in a short period. During the event, the Turkish companies inked significant order agreements.

The number of delegations arriving from Türkiye has been on the rise, Ersoy noted.

In the coming weeks, the Turkish cosmetics firms are set to make a strong entry into Panama with a delegation of 30 companies, Ersoy said, adding: “Jewelry is currently the top product group we export to this country.”

“This growing interest [in Turkish products] spans across a wide range of sectors, from kitchenware to furniture,” she said.

In 2024, Türkiye’s trade volume with Panama reached $532.5 million, with a $224 million surplus in Türkiye’s favor.