Hanoi (VNA) – The official visit to Vietnam by Panamanian President José Raúl Mulino and his spouse from October 5-8 is expected to give fresh momentum to the traditional friendship and multifaceted cooperation between Vietnam and Panama, opening up new opportunities for more substantive and effective bilateral ties.
The visit, made at the invitation of General Secretary of the Communist Party of Vietnam Central Committee and President To Lam and his spouse, takes place as the two countries celebrated the 50th anniversary of diplomatic relations in 2025 through a series of meaningful activities.
Strong and trusted friendship
Vietnam and Panama established diplomatic relations on August 28, 1975. Over the past five decades, bilateral friendship and multifaceted cooperation have been strengthened through high-level exchanges, cooperation agreements and coordination at international forums.
Recent years have seen continued exchanges and contacts at various levels. Notably, Panama's Deputy Minister of Foreign Affairs Carlos Arturo Hoyos paid an official visit to Vietnam from July 26-29, during which the two sides held the second political consultations between their foreign ministries.
At the consultations on July 28, Deputy Minister of Foreign Affairs Dang Hoang Giang affirmed that Vietnam attaches importance to Panama's role and position in Latin America and wants the traditional friendship and cooperation between the two countries to become stronger and more effective.
He highlighted the potential for Vietnam and Panama to serve as gateways linking the economies of ASEAN and Latin America, building on their respective economic strengths and strategic geographical positions.
Hoyos expressed Panama's appreciation for Vietnam as one of the first countries to sign the the Protocol to the Treaty Concerning the Permanent Neutrality and Operation of the Panama Canal. He spoke highly of Vietnam's socio-economic and foreign policy achievements and expressed Panama's wish to strengthen cooperation, particularly in trade and investment.
Panama stands ready to serve as a gateway for Vietnam to expand its relations with Latin America, while seeking to use Vietnam as a bridge to access Southeast Asian markets.
The two foreign ministries agreed to strengthen high-level exchanges, improve existing cooperation mechanisms such as political consultations and the Joint Commission on Economic, Trade and Investment Cooperation, and expand exchanges among ministries, sectors, localities and business communities.
They also agreed to promote negotiations and the signing of cooperation agreements in areas with strong potential, including trade, investment, customs, agriculture, tourism, maritime affairs and education.
The two countries have also continued to coordinate and support each other at international organisations and multilateral forums of which they are members.
Strong potential for economic cooperation
Economic and trade cooperation remains an important and complementary pillar of bilateral relations. Panama has consistently ranked among Vietnam's top 10 trading partners in Latin America.
According to the Customs Department, two-way trade reached 478.1 million USD in 2025, up 19.2% year on year. Vietnam's major exports to Panama include footwear, phones and components, computers and electronic products, textiles and garments, vehicles and spare parts, and seafood. Vietnam mainly imports timber and wood products, seafood and several raw materials from Panama.
With its strategic location in Central America and the Panama Canal – a vital global maritime route, Panama is an important trade and logistics hub and a gateway for Vietnamese goods to Central American and Caribbean markets.
The two sides therefore have considerable room to expand cooperation in logistics, maritime transport and supply chains, helping Vietnamese businesses reach markets in the Americas while creating opportunities for Panamanian companies to access ASEAN.
Vietnamese Foreign Ministry spokesperson Pham Thu Hang has said the two countries could expand cooperation in agriculture, telecommunications, infrastructure, maritime transport, port logistics, banking, and education and training.
Vietnamese Ambassador to Mexico and Panama Nguyen Van Hai also highlighted potential in logistics, maritime transport, finance, agriculture, renewable energy and tourism.
Vietnam is ready to facilitate investment and business activities by Panamanian enterprises and share experience in food production, particularly rice cultivation, he said.
People-to-people ties have also been strengthened through cultural, educational and tourism exchanges. The visa exemption agreement for ordinary passport holders signed in 2019 provides an important legal foundation for greater exchanges among people, businesses and localities.
Toward a new stage of cooperation
President Mulino's visit is the highest-level bilateral exchange between the two countries in nearly 15 years, following former Panamanian President Ricardo Martinelli's visit to Vietnam in 2012. It comes after the 50th anniversary of diplomatic relations and follows a meeting between the two foreign ministers on the sidelines of the 59th ASEAN Foreign Ministers' Meeting in the Philippines on July 24 and the second round of political consultations in Vietnam in late July.
During the visit, Mulino is scheduled to hold talks with Party General Secretary and President To Lam and meet with Prime Minister Le Minh Hung and National Assembly President Tran Thanh Man, among other activities.
Ambassador Hai said the visit is expected to create fresh political momentum at the highest level, translating bilateral potential and shared orientations into concrete programmes, action plans and projects.
It is also expected to promote cooperation in trade, investment and areas such as agriculture, banking, telecommunications, infrastructure, maritime transport and education and training. Cooperation documents expected to be signed during the visit will provide an important legal foundation for deeper and more stable bilateral ties.
Following the visit, the effective implementation of agreements and initiatives reached by the two countries' leaders will be crucial. Continued use of existing mechanisms, including political consultations between the two foreign ministries and the Joint Commission on Economic, Trade and Investment Cooperation, will help turn the visit's political significance into practical results.
With strong political determination from both sides and close bonds between the two peoples, Vietnam-Panama relations are expected to enter a new period of deeper, more substantive and effective cooperation, contributing to peace, stability, development and prosperity in the two regions and the world./.
